BTC Chart Update

Bitcoin long Term Chart

Last time we said  ‘The bounce off the lows is testing the 61.8% level and may continue higher towards 101K but we are looking for lower in the short term whilst below the all time high.’ It looks like we might have seen the high and I remain short now and will add at 101K . A daily close below 93k will be the first confirmation a top in place.

Bitcoin Hourly Chart

Last time we said ‘we need to make one slight new high to complete 5 waves up in wave (c). Given the bearish divergence I don't expect it to go too much higher and will start to go short between 96k and 101k with stops above the all time at 110k for a push below 75k. On a risk reward basis this is worth the risk with a move above the highs signalling the bullish trend is underway.’ We traded to 97900 enabling us to sell and if we are wrong and we make another slight high as above I will add to shorts. Given the divergence odds are  favouring the view for a lower BTC.

Bitcoin Short Term Chart

This is a really short term chart showing the 15 minutes time periods either sell now at 94300 or wait and sell around the 96k level.  Short term stop above the  98k level . But odds are favoring lower in the coming months.