Bitcoin Weekly Chart

For the past several weeks we have been looking for higher before lower and I believe from looking at the shorter-term charts, as you will see, that a top is in place, and I am now looking for the sell-off to resume.

Bitcoin Daily Chart

No real signal on a daily basis that BTC has topped out and finished its correction. So let's look at the hourly charts and see the reason why I am calling a top in place.

Bitcoin Short Term Chart

Last time I said, ‘I expect to see the BTC rally at any moment, if not long, buy now at 63k with a stop below 61k. It appears that wave (b) is now complete, and I am expecting to see the BTC burst higher, leave stops at 61k.'  We traded up to 66923, just shy of our 68580 target. We broke back out the channel before this morning's sell-off took us to new lows at 63020. I am selling now at 63450 for a small profit from last week and going short with stops at last week's high of 66923.

Ethereum Long Term Chart

Last week I said, ‘If we trade above wave A, the correction will take the form of a standard zigzag correction. We broke above wave A, so let's look again at the short term to see if the wave (iv) correction is over.' We traded slightly higher, so I called a top slightly too early, but looking at the short term charts, as you will see, I remain bearish on the ETH.

Ethereum Short Term Chart

Last time we said, ‘I am looking to sell at 1900 with stops above 1950 or on a break below the wave (1) at 1803.’ The high was 1978, stopping us out, but given the sell-off in the last 24 hours, I am happy to sell now at 1880 with stops 100 dollars higher.

Ethereum Very Short Term Chart

Last week in the 15-minute chart I said 'If correct, we should see a slightly higher before the sell-off continues, with a break below 1846 being the first signal a top maybe in place for wave (2).’ We traded down to 1846 to complete wave iv, before trading up to complete 5 waves and major wave (iv). Since then, we continue to make lower lows and lower highs and I am happy to sell now at 1880, 1900 and again at 1920 with stops at 1956 or 1980.