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Cryptocurrencies: Bitcoin & Ethereum Short Term Analysis

Currencies / BlockChain Sep 22, 2017 - 10:19 AM GMT

By: ElliottWave-Forecast

Currencies

The leading cryptocurrencies BTCUSD & ETHUSD rallied up from 09/15 low in a 3 waves Zigzag structure which ended wave (1) as part of an expected 5 waves diagonal to the upside. Both instruments is now doing a short term pullback in wave (2) as a double three toward equal legs area ($3740 – $3549 for bitcoin) and ($269 – $253 for Ethereum) where it should resume higher or bounce in 3 waves at least.


If the pivot at 05/19 lows gives up , then it will be looking to do the double correction from 09/02 peak and extend lower toward ( $2130 – $1650 for BTC) and ($102 – $56 for ETH) before buyers appear again for another 3 waves bounce.
BTCUSD 1H Chart 09.21.2017

BTCUSD 1H 09.21


ETHUSD 1H Chart 09.21.2017

More insights about Bitcoin & Ethereum can be seen through our Free Cryptocurrencies page including 1H & 4H updated charts for Ripple and Litecoin. We are also covering it during our live session in Group 3 which you can get access using our 14 days Trial.

By Ayoub Ben Rejeb

https://elliottwave-forecast.com

ElliottWave-Forecast has built its reputation on accurate technical analysis and a winning attitude. By successfully incorporating the Elliott Wave Theory with Market Correlation, Cycles, Proprietary Pivot System, we provide precise forecasts with up-to-date analysis for 52 instruments including Forex majors & crosses, Commodities and a number of Equity Indices from around the World. Our clients also have immediate access to our proprietary Actionable Trade Setups, Market Overview, 1 Hour, 4 Hour, Daily & Weekly Wave Counts. Weekend Webinar, Live Screen Sharing Sessions, Daily Technical Videos, Elliott Wave Setup .

Copyright © 2017 ElliottWave-Forecast - All Rights Reserved Disclaimer: The above is a matter of opinion provided for general information purposes only and is not intended as investment advice. Information and analysis above are derived from sources and utilising methods believed to be reliable, but we cannot accept responsibility for any losses you may incur as a result of this analysis. Individuals should consult with their personal financial advisors.


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