Bitcoin and Ethereum Elliott Wave Analysis: Room For More Upside

We are still tracking a five-wave cycle within this rise, where current slow down could be just a pullback before we will see more gains.

Bitcoin Elliott Wave Analysis

BTCUSD is making bigger recovery in the 4-hour chart, but notice that a rise is coming out of a triangle pattern, which suggests a corrective movement. So, according to two different daily interpretations, we are tracking an (A)-(B)-(C) corrective rally, where wave (C) can be now in progress and there can be room even up to 50k-54k resistance area before we will see another slow down.

Ethereum Elliott Wave Analysis

ETHUSD is in bigger recovery mode in the 4-hour chart, but the wave structure still looks corrective for now. We are tracking (A)-(B)-(C) correction and the main reason is a break out of wave (B) triangle, which indicates for wave (C). However, there can be still room up to 3600-3900 area within that (C) before we will see another drop based on two different daily counts.