Crypto Charts 104

Bitcoin

Last time we said:

Given the divergence in the MACD we are on alert for a sell off. If this is the case then look to buy at $24'200 and $22'900 stops at $19'500. The next target to the topside is $32'800

The divergence signalled a correction with the BTC trading within a corrective triangle that I believe is continuing to unfold. This is actually good as with momentum dropping it allows for greater acceleration to the topside once finished in a wave (iii) of 3 which is often the strongest leg of a trend.

Look to buy now at $25'350 and again at $24'245 with stops remaining at $19'500.

Ether

Last time we were:

Look to buy, if not already long, in the $1'720/$1'740 area with stops now raised to $1'600 level

The low so far has been $1'715 so remain long with stops still at $1'600. It could be that we are tracing out a more complex triangle formation like BTC and if that is the case then look to add at $1'675 to longs with stop still at $1'600 the wave ii low.