Crypto Charts 76

Bitcoin

Last time we said:

raise stops to the just below the major wave (2) low at 20650 looking for a push up through 24620 to confirm that wave (3) is underway

With divergence in the MACD hinting that topside momentum is dropping we are looking for BTC to retrace lower in a wave (2) correction into the 22465-22990 area. Look to buy there with stops remaining at last weeks levels.

Ethereum

Last week we said :

look to accelerate up through the wave (1) high at 1790, We are currently testing the bottom of the channel which we expect to hold. Raise stops now to  1550 and the remainder at 1356

As you can see we slightly broke the bottom of the channel but never hit the stops before accelerating and breaking  above 2000. Looking at the divergence in the MACD we should correct a little lower , or trade as a triangle  in  a wave 4 correction before making new highs above 2050. Remain long raising stops to the 1650 and 1550 levels.