Bitcoin Weekly Chart
No change in the weekly view 'it appears we are close to or have finished 5 waves higher to complete the wave (B) correction. This count is, in fact, not much different than before, but does take into account the recent push higher, whilst below the wave (B) high, then this remains my favored outlook.' A weekly close below 76250 should confirm the weekly trend lower.
Bitcoin Daily Chart
For the last 2 weeks, we believed 'Wave (B) has either completed, or the recent sideways action is actually tracing out a triangle correction before one more new high towards the 92k and possibly a test of the 100k level before the sell-off resumes. But whilst below 87382, I will look for lower. Close, shorts and go long above and resell at the levels mentioned.' No real change as we remain on alert for the next leg lower. Given the bearish divergence, I expect a sell-off imminently.
Bitcoin Short Term Chart
In the short-term chart we said 'If not short sell now at 83900, add at 85175 with stops remaining above the wave (B) high.' The high since has been 84232 before selling off to 79720 and retracing over the weekend in 3 waves to this morning high at 83063. If wave (2) has topped we should see a sharp drop in wave (3) of iii. Sell now at 82620 with stops at 84275 or above the wave (B) high at 87375.
Ethereum Long Term Chart
Last time, on a daily basis, we said 'we closed at 2540, confirming the bearish view, reaching a low of 2405 before currently trading higher. Let's look to see where we are and any possible sell levels.' Since then, we have traded down to 2717 and are currently retracing a little. I have relabeled the chart calling the recent low wave (i) and we are currently correcting in wave (ii). Let's check the short-term charts out for sale levels.
Ethereum Short Term Chart
Last week I said 'Sell now at 2552, again at 2600. Leave stops at 2810 or slightly lower at the minor wave a high of the wave (ii) triangle at 2776.' We traded down to 2320, in what I have labeled as a wave (b). Assuming we are tracing out a zigzag correction, I am closing now at 2433 and will look to sell higher at 2500 and 2560 with stops remaining at 2776. A break below 2320 will confirm wave (iii) is underway.
