Bitcoin Long Term Chart

Last time we said  ‘We are looking for lower in the short term whilst below the all time high.’ It looks like we might have seen the high and I remain short now and will add at 101K . A daily close below 93k will be the first confirmation a top in place.’ We have basically traded higher since the last update but we remain bearish below  109500.

Bitcoin Short Term Chart

Last time we said ‘We traded to 97900 enabling us to sell and if we are wrong and we make another slight high as above I will add to shorts. Given the divergence odds are  favouring the view for a lower BTC.’ We traded  just shy of the 106K but still below our  109500 stop. I am closing everything up here and will buy on a break of the all time high. If correct and we are seeing a high there are several thousand pips lower in what should be a sharp sell off. Lets look to very short term to see if wave 2 is over.

Bitcoin Very Short Term Chart

This is a really short term chart showing the 15 minutes time period We sold at 94300 and again at the 96k level.  Luckily we had stops in the short term at 98k level. ? There is a chance that BTC topped yesterday and I am happy to sell now at 104.5k with stops above the all time high.A move above  yesterdays high will confirm that wave (v) is underway and I would look to sell above 105750 stops above 109500.

Ethereum Long Term Chart

We were looking for a bounce to sell into but I honestly did not expect to see a high of 2624 surpassing our stop loss at 2350. There are a couple of interpretations of the current price actions and like BTC  and there is the chance that wave (B) hasn’t finished and we see another new high  towards the 2750 -3050 level. Lets look to the short term chart and my favoured view.

Ethereum Short Term Chart

Last time we were ‘looking for another push higher towards the 1960 level before the last leg lower. Move stops on shorts to 2350 with a move below 1385 the minimum target to the downside.’ We just continued higher stopping us out but as you can see we are currently testing the 50% retracement level. Given the higher highs in the markets has not been confirmed by highs in the indicators. I am again selling  ETH here rather than waiting to get the final few dollars . If correct then we should see a test of the 1200 level minimum in the coming weeks.