Crypto Charts 72

Crypto Charts 72


Last time we said:

'look to buy at $19'343 and $18'745 level with stops remaining at $17'599. If wave (ii) is in place then this will be confirmed on a break above $22k and we would look to buy on a break expecting BTC to start accelerating higher in an impulsive wave 3’

We traded down to $18'632 and then broke the $22k level. The acceleration higher we were expecting looks to be gaining some momentum this morning with next target to the topside that will confirm wave (iii) is underway at $23'590, place stops for half the position now at the wave (ii) low at $18'900 with the remainder staying at $17'599

Short-term chart


Last week we said

'look to buy on dips or on a break of the $1'300 level with stops below $1'040, which was what I believed to be the wave ii low'

Unfortunately for us we traded to $1'006 last week stopping us out before rallying out of the channel and breaking the $1'300 level we were looking for to add to longs.

If long remain long with stops just below $1'000. If not long I would buy now expecting ETH to accelerate higher in a wave (3) of iii, often the most impulsive leg of a trend. Look to add at $1'320 and again at $1'190 with stops just below $1'000.