Elliott Wave Live: BTCUSD Cycle Top, Correction For Metals

Videowhich prepared below has been preapered by wavetraders.com
Welcome to our new webinar. It’s interesting to see US markets and stocks turning lower exactly as the US government reopened. Before that, the market moved higher on expectations and positive sentiment, but now things are shifting back to normal. From here all eyes will again be on the Fed, because there is still uncertainty about whether they want to cut rates in December or not. Expectations for a rate cut are falling, and that’s why stocks are now in consolidation. It’s also important to mention Nvidia earnings on Wednesday after the close, so until then stocks could stay sideways or even down, as big players wait on data to be released first, and as a result the dollar may remain stable as well.
What is a bit worrying is that metals are also declining, which signals risk-off flows, and the same applies to BTC, who breaking well below 100000, which suggests a new cycle ahead.
For more updates on our latest Elliott Wave outlook, make sure to check our webinar below.
Grega