Crypto Chart 80

Crypto Chart 80
Photo by Maxim Hopman / Unsplash


Last time we said :

I am selling my position and going flat with an argument that BTC might also get caught up in the ETH merge. I would buy on a move back above 25300 , with a move below 17600 implying that another 3 waves lower is underway.’
Bitcoin Short Term Chart

I am showing the  daily log chart here and as you can see we are close to a low but  have yet to complete 5 waves down. I think we will break the 17600 mentioned above  and move towards the 15500 level. Buy on dips with  break of the 13850 level putting a much more bearish view into play and use this level as a stop loss.


In the last update we said :

It looks like we have a small push higher  possibly to the $1800 level  before  a sell off towards $1320.
Ethereum Short Term Chart

We traded to 1790 before selling off inline with expectations. Looking at the price action we can see that ETH is trading within the price channel and I expect to see one more new low below 1220 somewhere in the  1130/1180 area  where we would buy , closing shorts and go long.    Given the divergence in the MACD we expect a low  very soon with a move back up above 1400 confirming wave (iii) higher is underway.