There has been some pretty choppy price action in the crypto world today. BTC/USD is trading -2.5% lower on Tuesday as sentiment is once again weak. BTC/USD 1-Hour Chart Today has been an interesting day in the macro markets. The Fed cut interest rates by 50bps and Bitcoin jumped initially but pared gains. The chart below shows that there may be a new downside Elliott Wave formation moving lower. There is the potential that BTC/USD could be in the 3rd wave lower. The first indication of this is the 1-2 wave that stopped at the 76.4% Fibonacci level. Now the wave low of 8,737.80 has been rejected once again as resistance. The move lower could hit the 1.618% – 61.8% confluence. This would indicate that we indeed are in a 3rd wave and on most occasions, the 3rd wave is the longest. Additional Levels FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street Crypto News share Read Next USD/JPY hits fresh monthly lows below 107.00 as US yields drop to record lows FX Street 2 years There has been some pretty choppy price action in the crypto world today. BTC/USD is trading -2.5% lower on Tuesday as sentiment is once again weak. BTC/USD 1-Hour Chart Today has been an interesting day in the macro markets. The Fed cut interest rates by 50bps and Bitcoin jumped initially but pared gains. The chart below shows that there may be a new downside Elliott Wave formation moving lower. There is the potential that BTC/USD could be in the 3rd wave lower. The first indication of this is the 1-2 wave that stopped at the 76.4% Fibonacci level. Now the… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
