Last time we said
‘We are happy to stay long with the wave (1 ) close to completion expect to see a correction to around the 55500 level the area of the precious wave iv.’
and we retraced to exactly 55476 enabling us to add to our long. Whilst above that level stay long but allow for a larger correction to 57660 , where we would add with stops on half the position below 55450 and the remainder at 50480 .
Ethereum rallied inline with expectations but never retraced enough to add to our longs at 1712.A move up through 2201 will signal that wave (2) is complete and expect a sharp rally on a break. A close below 2080 will signal that wave (2) is underway . Look to buy around 2040 and raise stops on new and current longs to 1920.