Crypto Chart Feb. 17th

Bitcoin Daily Chart

No change from last week in the daily chart with the corrective triangle previously discussed  continuing to trace out.  Lets go to the hourly to see if wave (d) of the triangle is close to or already completed.

Bitcoin Short Term Charts

Last week we said ‘we have seen some very choppy sideways action , which appears corrective so expect to see another push towards the 105k level to complete wave (d).

If not long buy now at 97800 with stops either at 90300 or I prefer last weeks level of 89300.’

The sideways trading continued all week and it looks like we may have a slight new low below the wave (A) where we would buy  leaving stops at last weeks levels. The next couple of days should provide a  great burying opportunity.

Ethereum Medium Term Chart

No change for the long tor the longer term view.Last time we said ‘ We can clearly see the breakdown on the move below 2920 reaching a low just above the stop level , at 2135.  On a risk reward basis, I am happy to remain long and buy on dips whilst above the wave 4 low. This view remains valid and if not long buy now at 2650 as we test the bottom of trend channel. Using the wave 4 low as the stop level.’ The low so far was 2548 so if not long can buy now at 2720.

Ethereum Short Term Chart

Last time we said ‘I believe that a larger correction was underway but given the count it appears we are close to ending. Buy now with stops below the wave (ii)  low as last week.’

Possibly trade down to 2450 and the bottom of the channel. Start to add to longs below the 2548 low with stops remaining below 2135.