Crypto Charts 27

Crypto Charts 27
Bitcoin short term chart

We fell just short of the 36715 target to the topside , stopping at 36000 before the sell off we were expecting continued. Look to sell on rallies with initial targets to the downside around the 26400 level. A break of 28950 should see an acceleration to the downside . Failure to break there and a move back above 31895 would signal that a larger triangle correction is playing out with a test of the 35750 / 36510 area. Bitcoin needs a move above 41300 to negate the current bearish view.

Ethereum bearish short term chart

Last time we were bearish and the market followed our view perfectly

‘we are currently correcting and I expect to see a little higher into the 2250 area where we would sell expecting Ethereum to accelerate lower in an impulsive pattern below the 1700 level.’

We traded to 2414 before selling off and we expect the down trend to continue lower for an initial test of the 1400 level.