Bitcoin

Last time we said

‘ It is possible that wave (iv) has already finished and if so look to buy on a break above 38772.’

We also suggested scaling in buying on the way down to the 22100 level. XBT rallied to 40094 getting us long again. I am showing the 2 unfolding scenarios with the left one being confirmed on a move above 41974. If we break 33859 then, then the second chart is underway. I would close the current long and look to buy at 29700 , 25920 and 22126 with stops below 16220. Either way we expect to see higher in the coming weeks . Possibly buy some at current prices and add on a move lower or a break of the 40094 last week high.

Ethereum

Last time we said

'a move back above 1349 will call for immediate strength to new highs.'

We just traded 1391 but given the price action I think like bitcoin we maybe tracing out a larger wave 4 triangle correction before the next up leg. Look to buy around 1110. A break of 937 will signal a larger correction is underway and look to buy at 843 and add on further weakness to 724 with stops below 530. Either way we expect new high above 1500 in the coming weeks.