Crypto Charts 10

Last time we said

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.’

Wave iv obviously didn’t pan out but once again there is divergence as we approach last weeks buy area. Buy now with stops below 50000 for a move above 62000.

Last time we said

‘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.’

So we are net long following last weeks purchases at 1748. There is the possibility of slight push lower towards the 1640 level which would be a good buy level or on an hourly close above the channel. Lower stops to below 1420 with the next push towards 2200 expected to start imminently.