Bitcoin saw quite a correction over the weekend. This is typical for cryptos who tend to see a lot of action on Saturday or Sunday nights. We definitely appear to be in the corrective phase of a 5-3 Elliott Wave. It is likely that we will see another burst of momentum sometime soon. If not, we could retrace further to $31.6K or even $28.5K and still be considered bullish. The $30K level is important technically and psychologically. Current levels are a good area to buy. We could always add to the position as it dips further. When it picks up, watch for it to retrace the entire dip back to $41.9K
Ethereum had a nice correction. It looks like it is definitely in the corrective impulse of the 5-3 Elliott Wave. If momentum does not pick up, we might hit $954. If that does not hold we will definitely have support at $860. After that, we should get a nice burst of momentum back to highs, or one of the Fibonacci levels in between, $1030, $1105, or $1211. The Kovach OBV is still pretty strong on ETH, so watch for momentum to pick up soon.
Litecoin has corrected quite hard, harder than most of the other cryptos. This should be considered a buying opportunity. This does appear to be the corrective segment of a 5-3 Elliott Wave. If support at $130 does not hold, we should have support at $124. If it dips any further, this will invalidate the pattern entirely. Once we get a burst of momentum, this may constitute the beginning of the next Elliott Wave (wave 1) and we should make it back to highs, or levels nearby, shortly.
