The top appears to be in for Bitcoin and the other main Cryptos for the time being. This could be a long sustained decline. It is yet to be seen if this was the big C Wave decline that we were looking forward to having. However, even if it is only a shorter 1-2 wave decline this would provide us ample opportunity to prepare to go long at the right moment to ride this next Crypto wave higher.
News:
Coinbase And Bitfinex Upgrade to SegWit:
https://cointelegraph.com/news/coinbase-and-bitfinex-integrate-bitcoin-scaling-upgrade-segwit
Latin America's Largest Bank Will Use Ripple To Process Payments:
https://www.ccn.com/brazil-and-latin-americas-largest-bank-will-use-ripple-to-process-payments/
For the sake of simplicity we will only post the Bearish chart with the completing C wave since this one most aligns with the declines we expect to see in ETH and XRP in the coming days. As a side note, this could still very well just be a 1-2 wave decline and if that is the case we will adjust the chart accordingly. Its really hard to be a fan of how that Pink (4) wave played out but we will accept it and if we break to new lows past Pink (3) then we will be able to confirm that it was a 4th wave instead of a impulse wave 1.
As we noted before, Ethereum's failure to confirm Bitcoin's rise higher was a clear indication that something was not right. We can see a short signal just below Cyan (2).
