Crypto Charts 13
![Crypto Charts 13](/content/images/size/w2000/2021/04/cryptochart.jpg)
![](https://www.theassets.io/content/images/2021/04/image-3.png)
I am closing the remainder of our position at current levels expecting to see a break of the 50k level to complete the first leg of a retracement. I then expect to see a bounce back towards the bottom of the channel before another sell off. It appears we are trading in a wave iv corrective triangle that should see a test down to the 47000 area . A break of 43000 will negate this current view with a larger correction underway. Whilst above the wave (a) look for Bitcoin to trade sideways between the above mentioned levels before pushing to new highs.
![](https://www.theassets.io/content/images/2021/04/image-4.png)
Ethereum rallied inline with expectations but the subsequent sell off never hit the buy level we mentioned last week. Like the bitcoin it looks as if we are in a corrective triangle whilst we trade above the wave (a) low, a break there will signal wave (iv) is tracing out a zigzag and should see a test of 1782 where we would look to buy with the long term potential still much higher. I would also look to buy now with stops below 1540.