Crypto Charts 96

Bitcoin

Last time we said:

‘so look to remain or get long on a correction to the $18'900-$19'200 level’

Looking for another push higher above $23'300 to complete 5 waves up. Looking at the MACD we can see clear divergence that hints that a top will soon be in place. Use this pull back into the $20'550 – $21'000 level to buy BTC with stops remaining at the $16'400 level. We remain long term bullish unless $16'400 breaks.

Ethereum

Last time I said:

‘Use any pullbacks into the $1'460/$1'400 area which not only coincides with 50% retracement level and the bottom of the channel but also the area of the previous wave 4. Stops can now be raised on longs to the wave 2 low as we look for Ethereum to rally over the next several months’

Like BTC we should make a new high towards the top of the channel and the $1'800 area to complete 5 waves up in wave 3. However the divergence in the MACD hints that once done a correction down towards the $1'500/$1'550 level will provide us with the opportunity to rebuy with stops remaining at $1'230 level.