Nightly Crypto Report: Precarious

Ether is leading the downward movement, while Bitcoin hovers in a tight range, yet very precariously over support levels.


Bitcoin has been loitering at the .764 retrace of red wave-(1) for two days now so there is little to add. A break over $70K will favor continuation in the red count. A breakdown below $66,300 would confirm the black count is in play which should send Bitcoin down to between $54 and 56k.


My view is that Ether has topped in black circle-B or red-3. Red-4 should hold $3300. Red C of 4 appears to be a diagonal. 

Red count should lead to a more solid bottom but it will need testing in wave-ii, likely in the $3400 region.


ETHBTC has now formed five waves in ((a)) so is due for a pullback in (b).

Ryan Wilday hosts the Crypto Waves service on