Nightly Crypto Report: Off and On

Sep 8, 2023 - 3:01 PM EDT

General

Bitcoin got off track a bit by invalidating its 2nd wave-(v). But it is now back on track with reset top in wave-(iv).

Bitcoin

Bitcoin invalidated the 2nd wave of (v) and reset wave-(iv) but is back on track with a new top in (iv) right at the top of resistance. $23,875 is the ideal target for (v) of circle-i.

Ethereum

Ether held wave-2 of (5) and should reach $1575 to complete circle-1.

ETHBTC

Wave-5 appears to be in progress which should take the pair down to between 0.055 and 0.059. Breaking over 0.065 in a sustained manner suggests that the pair may have bottomed.

GBTC

GBTC is really stretching out the B of its third wave. It is considered a B up to $19.85 and over that level, circle-2 will be reset.

Ryan Wilday hosts the Crypto Waves service on ElliottWaveTrader.net.

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