Crypto Charts 07

Crypto Charts 07

bitcoin short term chart

It couldn’t have gone much better since my previous update when we said

‘As I type this we are 34900 and would buy now and on a break of 38650 with stops initially below last weeks low at 28860.’

So we are now long double the amount at an average of 36775. I am looking for minor wave 1 to complete with a push above 50000 to around the 52000. From there we will be on alert for a correction that will end above 37400 where we can now raise our stops. Look to buy dips towards the 44400 and 42600 level. If this count is correct then the next leg higher should be even sharper and longer so remain long and add when you can.

Ethereum short term chart

We are getting close to a short term top in Ethereum and we would look to take some of the profit at 1900 from the longs we took after last weeks advice

‘Look to buy now on dips with stops on an hourly close below 1271.905 ‘

We are close to a top if you examine the internal wave count but while we remain above 1631 look for higher. Once in place a larger correction will take us lower providing us with a buying opportunity .If this wave count is correct then it should stop in the 900/1350 area and we will advise when we get there.