Traders should be patient here. A deep pull back could already be in play. No upward impulsive wave structure suggests more downside ahead. Other cryptos are preferred at this stage.
Here we have a very clear level where bull’s plans get destroyed and the upside price formation looks unfinished.
Ripple wave structure tells me that soon we should see a small pull back and off to new highs…very short-term play to the upside after a pull back. Longer-term price structure looks like it is near the end of the big rally.
Could be the preferred one relative to the rest of the 4 cryptos. Looking now possibly at the start of wave 5 and more specifically to waves 1 and 2 of 5.
That is my first try for a look at cryptocurrencies. Wishes for a happy new year to all…..take care