Crypto Charts 09

Bitcoin short term chart

Last time we said ‘ I am showing the bullish count that says the correction is over and we are continuing higher to new highs a move above 58000 will confirm this view.’ We traded to 61740 before selling off sharply in a fourth wave correction. A push back above 57300 should confirm that wave iv has ended with the 61.8% retracement level at 52250 another level we would buy placing stops below 50000. At the moment the divergence calls for a low in place soon and in the longer term charts a daily close below 50000 would confirm a pull back to 40k at least in underway.

Ethereum short term chart

Last time we said ‘Sell now with a stop entry above this years high.’ and we are currently trading slightly below last weeks levels so I would rebuy now at 1800. With Ethereum pulling back in a 4th wave correction before heading to new highs. The 50% retracement comes in at 1695 and I would look to add down there with stops below 1600.