Elliott Wave Analysis

Bitcoin Elliott Wave and Sentiment AnalysisJan 6, 2022

Elliott Waves and Sentiment Bitcoin by ew-forecast on TradingView.com

Cryptocurrencies are moving to the downside as stocks found resistance after a more hawkish FOMC yesterday. USD is strong so cryptos are even lower as expected. But where are in in this long-term picture? I believe that consolidation since April of 2021 is still in play with the first support at 40k and the next one at 30k area. The important data to track is the sentiment and liquidation of longs in particular.

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