Crypto market is clearly bullish from technical point of view and from Elliott wave perspective.
After a completed A-B-C correction back in June, we have seen nice and clean five-wave recovery, which from Elliott wave perspective indicates for more upside, ideally as part of higher degree five-wave bullish impulse. However of course, nothing goes in straight lines, so after every five waves, there’s a three-wave a-b-c correction before the uptrend resumes, which can be now underway or maybe even approaching the end. First support we see here around 1.12T – 1.10T area, while second support would be around 1.05T area if correction will be more complex and deeper.
Crypto market is bullish as long as it’s above 1T invalidation area.
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