Introduction:
As we approach the weekend and the joyous Christmas season, a festive atmosphere engulfs the cryptocurrency market, especially the BTC/USD pair. Building on our previous analysis, an Elliott Wave Impulse is expected to guide the market's course during this celebratory period.
Elliott Wave Impulse Structure:
The Elliott Wave theory suggests that...
If you are like me, thinking the US markets will act as a safe haven for global capital, then you should clearly see the upside potential if these recent lows hold.
If not, then you are seeing the downside risks as more likely - and will want to understand the price structure in place that may prompt some consolidation.
IMO, we are amid a Wave 4 correction....
If you were watching the markets this morning or were caught unprepared for the huge CPI numbers (which lag), you were probably sweating bullets watching the NQ fall 400+ points in just a few minutes.
These reactionary types of price swings can be very dangerous for some traders - especially right now.
But, I want to alert you that the NQ has rallied nearly 200+...
If you have not been paying attention, this is a good time to learn about a support level many are ignoring.
Yes, this support from 2011~2015, and the range I've drawn in BLUE, will likely prompt a relief/recovery rally (if support holds). If this support level fails, then we will see a much bigger breakdown in the markets over the next few months (before the Fed...
