Crypto Charts 11

Bitcoin short term chart

Last time we said

‘Buy now at 52250 with stops below 50000 for a move above 62000.’

and having broken out of channel it adds weight to the argument that the next bullish leg higher is underway. We are happy to stay long with the wave (1 ) close to completion expect to see a correction to around the 55500 level the area of the precious wave iv. If we break 50000 then I think a larger wave triangle correction would be underway but until then we will remain long expecting to see an acceleration higher on an hourly close above 60100.

Ethereum short term chart

Last time we nailed Ethereum

‘ we are net long following last weeks purchases at 1748. There is the possibility of slight push lower towards the 1640 level which would be a good buy level .Lower stops to below 1420 with the next push towards 2200 expected to start imminently.’

This gives us an average on our 3 buy orders of 1712.Look to buy on a pull back to 1750/60 area and raise stops to the 1650 level. If you want to place a close stop on the new purchase place at 1710.