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More Weakness Lies Ahead For Ethereum and Bitcoin

By Gregor HorvatCryptocurrencySep 28, 2021 07:56AM ET
www.investing.com/analysis/more-weakness-lies-ahead-for-ethereum-and-bitcoin-200603303
More Weakness Lies Ahead For Ethereum and Bitcoin
By Gregor Horvat   |  Sep 28, 2021 07:56AM ET
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BTC/USD is still in an intraday consolidation which more and more looks like a corrective movement. Traders should be aware of a break into new lows, either for wave 3 of an impulse, ideally as part of a leading diagonal pattern, but only if it stays below the $49,000 level.

Bitcoin 1 hour Elliott Wave Analysis

Bitcoin 1 hour Elliott Wave
Bitcoin 1 hour Elliott Wave

Meanwhile, for ETH/USD, the sideways price action looks to be a correction that can send the price even lower. It could either head towards wave 3 of an impulse as part of the final leg of a leading diagonal pattern. But, only while it's below channel resistance line and at the $3700 level.

Ethereum 1 hour Elliott Wave Analysis
Ethereum 1 hour Elliott Wave
Ethereum 1 hour Elliott Wave

More Weakness Lies Ahead For Ethereum and Bitcoin
 

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More Weakness Lies Ahead For Ethereum and Bitcoin

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Comments (2)
Vv Pp
Vv Pp Oct 02, 2021 4:21PM ET
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I think analysis needs correction
PANYAM PRAVEEN KUMAR
PANYAM PRAVEEN KUMAR Sep 29, 2021 11:35AM ET
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lovely inu analysis
 
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