Bitcoin could fall to the $6800-8700 region – Elliott Wave Analysis

Elliott wave Analysis: BTC/USD and EUR/USD update

We can see some turn down on CryptoCurrenices following rumors about Japanese exchange halts withdrawal and trading. We have seen a nice leg down in the past few hours here on BTCUSD falling from above 11700 below 10400 now which makes even better look for a triangle count here in wave 4. As such, our view remains unchanged we are looking down for wave 5 towards 6800-8700.

BTCUSD, 1h

Yesterday we saw some shift in trend after Trump comment who said “The dollar is going to get stronger and stronger, and ultimately I want to see a strong dollar,”. We have seen a nice 170 pip fall on EURUSD which looks like a start of a deeper correction in three waves. There is room for 1.2322 where new support can be seen, maybe next week.

EURUSD, 1h

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