An Elliott Wave Look At 4 Cryptocurriencies

Published 12/29/2017, 01:13 PM
Updated 07/09/2023, 06:31 AM
BTC/USD
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ETH/USD
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XRP/USD
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LTC/USD
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Bitcoin

Traders should be patient, here. A deep pull back could already be in play. The absence of an upward impulsive wave structure suggests more downside ahead. Other cryptos are preferred at this stage.

Bitcoin

Etherium

Etherium

Here we have a very clear level where the bulls' plans get destroyed and the upside price formation looks unfinished.

Ripple

Ripple

Ripple's wave structure tells me that soon we should see a small pull back, then a move to new highs…very short-term play to the upside after a pull back. Longer-term price structure looks like it is near the end of the big rally.

Litecoin

This could be the preferred play relative to the other 3 cryptos. We're now looking at the possible start of wave 5 and, more specifically, waves 1 and 2 of 5.

Litecoin

That's my take on the cryptos. Wishes for a happy new year to all…..take care.

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