Technical Analysis

Is Summer Consolidation For Cryptocurrencies Coming To An End?Aug 29, 2024

We talked about that Bitcoin summer consolidation back in June, but now that summer is coming to an end, we should be aware of a bullish resumption into the end of 2024, which can lift the whole Crypto market higher.

BTCUSD Weekly Technical Chart

From Elliott wave perspective, summer consolidation on Bitcoin represents wave IV correction, so bullish continuation for wave V can be still in the cards to complete a five-wave bullish cycle.

BTCUSD Weekly Elliott Wave Count

Don’t forget on the monthly cycle period chart of Bitcoin, which is still in the middle of a 35-month bullish cycle, so there’s still plenty of time for bulls to extend higher, ideally till 2025.

BTCUSD Monthly Cycles

Forex

CADJPY Turning Down From Key Resistance Area With Bearish Elliott Wave Pattern

Read More

Funded Trader Program

Trade our money and collect the profits.

Read More

Learn Elliott Waves

Access to more than 7 hours of educational material

Read More

Crypto

Algorand Resumes Its Recovery As Anticipated; March 2024 Highs Soon?

Read More

Become a premium member

Get daily Elliott Wave updates for SP500,DAX, GOLD, SILVER, CRUDE, FX, CRYPTO, etc. or apply for unlimited access to the Elliot Wave educational videos.

Register and look inside of our members area

Do you find this interesting? Subscribe to our newsletter and stay up to date.

In our newsletter you will find all the news and macro reports about Forex, Crypto, Commodities and more. Don't miss a thing!

    DISCLAIMER

    Any reviews, news, analysis, prices or other information contained on our website is provided as general market commentary and delivered electronically through a distribution channel to larger number of clients, therefore does not constitute investment advice or investment research. We are not trading advisors. Most of our work is for educational purposes only, with information based on Elliott Wave theory in real time. Trading forex, futures, options, stocks, cryptocurrenices or any another trading market carries a high level of risk, and may not be suitable for all investors.

    The possibility exists that you could lose some or all of your initial investment; therefore you should not invest money that you cannot afford to lose. Our website and the information that we provide should not be relied upon as a substitute for extensive independent research before making your investment decisions. In no event will we be liable for any loss or damage on your account in connection with, the use of our products. For any real cash investments you have to contact your financial advisor.

    Any information or material contained on our website is owned by Val Global d.o.o.. Reproduction is prohibited without Val Global d.o.o. prior license in writing.

    By continuing to use the site, you agree to the use of cookies. Learn more.

    The cookie settings on this website are set to "allow cookies" to give you the best browsing experience possible. If you continue to use this website without changing your cookie settings or you click "Accept" below then you are consenting to this.

    Close