XRP and BCH Elliott Wave Cycles Suggest Recovery Ahead

XRP and BCH Elliott Wave Cycles Suggest Recovery Ahead

By FX Empire | FX Empire | 15 Jan 2022

There is no big changes in the Crypto market, it’s still in the neutral zone on the intraday basis.

We can see a new intraday decline following stock market sell-off, which can still belong to a higher degree wave »iv« correction within downtrend according to our primary count.

However, we are also still observing a secondary count, where Crypto market could be unfolding a bigger three-wave A-B-C corrective recovery, where current drop could be a pullback in wave B.



XRPUSD remains nicely bearish in the 4-hour chart as expected and we can see a quite clear impulsive decline, so bears are probably still in control, just be aware of a potential A-B-C pullback before the downtrend resumes, as five waves down can be seen. Ideal resistance is in the 0.80 – 086 area, but keep in mind that we remain bearish as long as the price is below 1.02 invalidation level.

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BCHUSD is making quite big intraday recovery, so wave 5 can be completed, but notice that it didn’t break below previous December 2021 spike low, so for now we are just observing a minimum three-wave A-B-C rally which can still belong to a higher degree correction within downtrend, while the price is below 544 level.


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