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Tesla Buys Bitcoin, Cryptos Get a Lift!!

Bitcoin

Bitcoin retraced significantly from relative highs at 40.8Korso.Thisappearstobethecorrectivephaseofasmaller5-3ElliottWavepattern,nestedwithinalargerconstruct.WestillviewthisasanoverallsidewayscorrectivephaseasBTCgearsupforanotherbreakout.Memestocksseemtobeoutoffavorthesedays,sotheaddictiontovolatilitywilllikelypushtradersbacktocrypto.Expectmorebullmomentum,butbewareoftheinevitablepullbackastraderstakeprofitsorBitcoindoesBitcointhings.Wewillhavesupportat40.8K 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 at37.7K and 36.7K.Thereareseverallevelsbetweencurrentpricesand36.7K. There are several levels between current prices and30K that will provide support if BTC breaks further. We are still in long term bull mode as long as we can maintain $30K+

btc

Ethereum

Ethereum caught some momentum, after a retracement to a support level at 1547.ItappearstobecatchingsomefurthermomentumfromthehugespikeinBTCthatwearewitnessingliterallyasIwritethis.ETHwillfaceresistanceagainathighs.TheKovachOBVhasslumpedwithETH'sretracementbutitlookslikeitisstartingtopickupagain.WearereceivingbreakingnewsthatTeslahasbought1547. 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 bought1.5B worth of Bitcoin so the entire crypto market should get a lift off this

eth

Litecoin

Litecoin caught a huge lift from support at 147.Wearecurrentlyripping,testingresistanceat147. We are currently ripping, testing resistance at158. We are likely to see some retracement here, but if not 166isthenexttarget.Levelsfrombelowinclude166 is the next target. Levels from below include147, 145,and145, and141. After the 140'swellhave140's well have138. Litecoin is likely to maintain the range 147to147 to158 for a bit before continued momentum back to highs. Long term we are very bullish of LTC.

ltc

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