Elliott wave Analysis: S&P500 and BTCUSD
Elliott wave Analysis: S&P500 and BTCUSD
E-mini S&P500 turned up after a crash down to 2530 level which we see it as wave 3) so a reversal is not a surprise, and it should be made by three sub-waves. Notice that we are tracking wave 4) which has room for 2660/2690 to make an A-B-C recovery before downtrend resumes towards 2500/2480.
S&P500, 1H
BITCOIN came sharply lower recently, but in five waves from 13040 so we assume that decline can end soon. We see market touching an important 6400-7k support area from where an impulsive turn and break above 9500 would confirm a turning point.
BTCUSD, 1H
Disclosure: Please be informed that information we provide is NOT trading recommendation or investment advice. All of our work is for educational purposes only.
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