Bitcoin
Last time we said:
‘It appears we have completed 5 waves up for wave (i) and are currently correcting in 3 waves. Look to buy at $28'900 and add at $28'100 with stops now at $25'800. Once the correction is complete we should see a sharp acceleration above 32k'
We traded down to $29'520 to complete the first leg lower. It appears we are now selling off to complete wave c. Look for a sell off from current levels and start to buy at $28'880, add at $28'100 and again at $27'330 with stops at $26'000.
As last week we expect a sharp acceleration on a break back above 32K.
Ether
Last time I said:
‘Look for a correction into the $1'780-$1'815 area where we would look to buy with stops now raised on longs below the $1'620 wave (ii) low. Buy on dips as if correct this coming correction will provide us with the lowest level for several months ahead to buy’
We traded down to $1'827 before correcting in 3 waves. Look for another sell off into the $1'780 – $1'742 area where we would buy with stops remaining at the $1'620 level mentioned last week.
