BTC
MACD divergence suggests a low will be in place soon, followed by a move back above $44k, confirming wave v is underway
ETH
A move above $3'305 will confirm wave v is underway, with stops set at $2'820
Bitcoin Short-Term Chart
Last time we said:
‘we are close to completing the wave iv correction and I would start buying now with stops below $40'550 with targets remaining at $52'000’
Again we think we are close to completing the wave iv correction and would lower the stop to $38'200. Looking at the MACD, we can see a divergence, indicating a low should be in place soon with the next move up testing the top of the channel and the $50k level minimum.
A move back above $44k should be the first indication that wave v is underway.
Ether Bullish Chart
Last time we said:
‘Looking at the MACD, the red circle we are starting to turn bullish again and I would buy now and add on a dip to the $3'050 level raising stops to the $2'820 level’
No change in our view with a move back above the trend channel and the overnight high at $3'305 confirming that wave v is underway. I would look to leave stops at the $2'820 level.
