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 traded higher since the last reaching 107600 this , however we remain bearish whilst below 109500.
Bitcoin Short Term Chart
We were looking for signs that wave (v) had ended and given this mornings new high followed by a sharp sell off, combined with the divergence in the MACD I am calling a top in the BTC and am closing longs , if not already. A move back above the 109500 will alter this view. A close below the channel , currently around the 101600 level should see an acceleration lower with next target 95k.
Bitcoin Very Short Term Chart
This is a really short term chart showing the 15 minutes time period. Last week In said ‘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.’ We made a wave v to complete the correction. As you can see this mornings sharp sell is currently correcting and I would suggest selling now if not closed already with stop entry above the 109500 stops.
Ethereum Long Term Chart
Last time we said ‘there is the chance that wave (B) hasn’t finished and we see another new high towards the 2750 -3050 level.’ we traded to 2743 just shy of the 50% retracement level. I believe we have seen the high and should now see the sell of that I have been expecting the past few weeks. A daily close below 2350 will confirm the bearish view. Lets see if any clues in the short term charts.
Ethereum Short Term Chart
Last time we were ‘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.’ The bearish divergence we were talking about worked well. No real change in my view as we continue to look for lower whilst below the 2740 level now. A move above would negate the count with the next resistance at 3060.
