Bitcoin
Last time we said:
we are now looking for major wave (iii) to rally in 5 waves. With initial targets above 27k. Given the break out of the channel we will call; wave (ii) in place we can raise stops to last weeks lows
We traded much higher in line with expectations and we remain bullish for crypto. As last week, use any pull back to get long. There is an alternate count that will come into play that today's highs is actually the end of a major wave (i) and this view will come into play on a break below $26'500. Given the divergence in the MACD we are on alert for a sell off. If this is the case then look to buy at $24'200 and $22'900 stops at $19'500. The next target to the topside is $32'800.
Ethereum
Last time we were:
Awaiting the break out of the channel, so you could buy now and leave stops at last week's levels expecting an acceleration once we break out the topside of the channel
A larger wave (2) correction is currently unfolding stopping just shy of the 50% retracement level. Look to buy, if not already long, in the $1'720/$1'740 area with stops now raised to $1'600 level.
