Crypto Charts 14

Bitcoin short term chart

Last time we said

‘We stopped at 47070 and have since bounced of the lows in what I expect to be the first leg higher. Look for a pull back to the 51000 level where we would buy with stops below 43000 expecting a test of the 60000 level and the bottom of the channel.’

We traded down to 52000 and traded up to complete 5 waves for the first leg up. We are currently retracing in a wave b that should take us into the 54400/ 53000 area where we would look to buy with stops below 47100.

Ethereum short term chart

Ethereum has just rallied since our last update which we have participated in when we said

‘I would also look to buy now 2090 with stops below 1540.’

Raise stops on longs to 2500 looking to buy a correction into the orange shaded area. I would reduce our long by 50% now at 3475 and look to rebuy and add on the expected retracement. But we believe the upside is the predominant trend continue.