Crypto Charts 7th July

Bitcoin Long Term Chart

Really on a long term basis there is ‘No change as we continue to look for lower whilst below the wave (5) high so remain short with stops at 112500. ‘

Bitcoin Short Term Chart

We remain bearish the  BTC whilst below the 113K , last time we said ‘this wave count is correct we should a sell of to around  105k before a push above the wave (a) and wait until then to sell with stops still at 113k.’ We traded down to 105K before rallying to 110.6K’. We are currently at 109.8K  so am happy to sell now  with stops above 113K.

Bitcoin Very Short Term Chart

We saw the pull back and correction  we were looking for last week ‘in short term look for a pullback into the 103-105k Level for a push above this morning high. However we are not expecting much higher and a print above the wave (a) high is enough whist below 113K to keep this bearish view alive.’ So having seen this rally of the corrective low we would be happy to close here and remain short whilst below 113K.

Ethereum long Term Chart

Last time we said ‘We closed below 2350 confirming the bearish view but there has since been a sharp retracement. ‘ We continue to look for lower with stops above 2900 or 3100 , lets look to the short term chart to see where we are in the price cycle.

Ethereum Short Term Chart

Last time we said’ Look to sell around the 2600 level with stops at 2900.’ We rallied to 2636 to complete wave (X) . I am happy to sell here at 2570 or on a break out of the channel. Confirmation that wave iii is underway will be an hourly close below 2470. A break below 2375 should see an acceleration below 2000.