Bitcoin (BTC/USD) seems to be reacting and bouncing at the critical support zone, which is based on the 38.2-50% Fibonacci level and 21 emas. The price area is key whether indeed a wave 4-5 pattern will emerge, which could take price up to 10k. Ethereum (ETH/USD) broke the bear flag and is now testing the previous bottom.
Bitcoin (BTC/USD) is testing key Fibonacci levels. A bullish bounce and break above the resistance trend line could confirm the end of wave 4 and the start of bullish wave 5, which could take price up the Fibonacci targets.
Ethereum (ETH/USD) is testing the previous bottom which is new decision zone for a breakout or reversal.
Check out the video for the full analysis and trade plans on 2-4 August 2018:
Good trading,
Chris Svorcik
Elite CurrenSea
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