Bitcoin Weekly Chart
We remain bearish whilst below 82810 on a weekly basis. The minimum target was met trading below the wave (A) low at 60033, but we need to break down the short-term charts to see where in the final leg of the correction we are.
Bitcoin Daily Chart
Having met the minimum target, reaching a low of 59101, we have corrected the low, possibly giving us a great sell opportunity. Let's look to the short term to see possible sell levels.
Bitcoin Short Term Chart
Last time I said, 'It looks to me that we have either completed the wave (iv) or, if we trade higher before making a new low look to sell at 66250, 68500 and again at 73k with stops above 78k.' As you can see from the ghost arrow we traded higher to 67258 enabling us to sell at 66250, and I would use the wave (iv) high in the short term as a stop loss level. If not short, sell at 64380 and again at 65340 with stops at 67600.
Ethereum Long Term Chart
On a daily basis, we have called a low and were looking to ‘ break down the short-term chart to see what this recent correction off the lows represents.’ As you can see, I have labeled it as a wave (iv) and on a daily basis, whilst below 2220 I will continue to look for lower.
Ethereum Short Term Chart
Last time we said ‘'We hit a low of 1505 and looking at the charts, it appears we are currently in the correction discussed last week. Look to sell around the 1860s and the 1970s level with stops above 2280 for another push to new lows.' We traded to a high of 1848, just shy of the 38.2% retrace level at 1861. I am selling now at 1747 with stops above 1880 or 2020.
Ethereum 15 minute chart.
Looking at the 15-minute chart again, lat time I said 'For the short term, trade, buy now at 1615 with stops below 1500. Look to take profits and go short towards the 1860 or 1970 level.' As mentioned, the high was 1648. Given this is a 15-minute chart we are really trading a very short term view, but I have broken it down again, and I would look to sell atr 1758 and again at 1770, 1780 with stops at 1860.
