Bitcoin retraced significantly from relative highs at $40.8K or so. This appears to be the corrective phase of a smaller 5-3 Elliott Wave pattern, nested within a larger construct. We still view this as an overall sideways corrective phase as BTC gears up for another breakout. Meme stocks seem to be out of favor these days, so the addiction to volatility will likely push traders back to crypto. Expect more bull momentum, but beware of the inevitable pull back as traders take profits or Bitcoin does Bitcoin things. We will have support at $37.7K and $36.7K. There are several levels between current prices and $30K that will provide support if BTC breaks further. We are still in long term bull mode as long as we can maintain $30K+
Ethereum caught some momentum, after a retracement to a support level at $1547. It appears to be catching some further momentum from the huge spike in BTC that we are witnessing literally as I write this. ETH will face resistance again at highs. The Kovach OBV has slumped with ETH's retracement but it looks like it is starting to pick up again. We are receiving breaking news that Tesla has bought $1.5B worth of Bitcoin so the entire crypto market should get a lift off this
Litecoin caught a huge lift from support at $147. We are currently ripping, testing resistance at $158. We are likely to see some retracement here, but if not $166 is the next target. Levels from below include $147, $145, and $141. After the $140's well have $138. Litecoin is likely to maintain the range $147 to $158 for a bit before continued momentum back to highs. Long term we are very bullish of LTC.
