Stall Before The Last Step

The cryptos have just stalled before the final moves down.  The next key level for a bounce in Bitcoin is below $7250, ideally hitting $7185, and ideally is contained by $6990. I consider circle iii unfinished until Bitcoin rallies over $7700, at which time I'll consider it in circle iv. 

As for Ether, I count it in wave iv, not because it broke $164 but because it is running very close to the trendline for a diagonal. I'd surprised to see an additional 4 of circle iii with this action. 

Regarding GBTC, today I assumed it rallied in circle iv. However, later today with a small breach of resistance signally that intent, it weakened later today, so I can't say for sure. If not, $8 is next. As stated earlier, I had an order at $8.55 but due to gap down I'm in at $8.38. Again this is a partial position and I may take it off at circle iv if clearly corrective. Note even though GBTC went really low, it may be a B wave in circle iv. It is very hard to know with such low liquidity. 

Regarding ETHBTC, no change. We are definitely seeing a weak downward movement. So, I still assume this lower ii will hold. 

For long-term traders, it's time to consider laying in tranches if you are long term. Just note, until we have five waves up, support is still $4300 Bitcoin, $113 Ethereum, and $5 GBTC.

GBTC - Primary Analysis - Oct-24 1605 PM (1 hour)
GBTC - Primary Analysis - Oct-24 1605 PM (1 hour)
ETHBTC - Primary Analysis - Oct-24 1606 PM (45 min)
ETHBTC - Primary Analysis - Oct-24 1606 PM (45 min)
ETHUSD - Primary Analysis - Oct-24 1600 PM (1 hour)
ETHUSD - Primary Analysis - Oct-24 1600 PM (1 hour)
ETHUSD - Primary Analysis - Oct-24 1606 PM (6 hour)
ETHUSD - Primary Analysis - Oct-24 1606 PM (6 hour)
GBTC - Primary Analysis - Oct-24 1606 PM (6 hour)
GBTC - Primary Analysis - Oct-24 1606 PM (6 hour)
XBTUSD - Primary Analysis - Oct-24 1605 PM (6 hour)
XBTUSD - Primary Analysis - Oct-24 1605 PM (6 hour)
XBTUSD - Primary Analysis - Oct-24 1601 PM (20 min)
XBTUSD - Primary Analysis - Oct-24 1601 PM (20 min)
Ryan Wilday hosts the Cryptocurrency Trading service on ElliottWaveTrader.net.