Bitcoin
Last time we said:
I am looking for a break to the downside and test towards the $23k level to complete the 5 waves lower and end the wave 2 correction. Look to buy at $23'250 and add at $22'747
As you can see we traded slightly higher stopping at $26'403, the 38.2% retracement level, before drifting off. We continue to look for a break and acceleration lower on an hourly close below $24'300. Use the above levels to close shorts and start rebuilding longs.
Ethereum
Last time we said:
Look to sell now in the $1'636-$1'657 area with stops above $1'750 for a move lower in 5 waves towards the $1'500 level where we will start buying the ETH adding again at $1'440 and $1'390
An hourly close below $1'590 should see an acceleration lower in a wave 3. Continue to use last week's levels to cover shorts and start building a long position.
