BTC
Whilst above $38'200, we should expect an acceleration higher above $41'600
ETH
Whilst above $2'820, we should expect a move above $3'145, that could lead to an acceleration above $3'600
Bitcoin
Last time we said:
‘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'
We traded down to $38'579 and whilst above $38'200 we remain bullish for BTC. We should see an acceleration higher on a move above $41'600. I would look to buy dips at $39'200 and place stops 1000 pips below.
Ether
Last time we said:
‘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’
Given the divergence in the MACD and the break out of the trend channel, we are looking for Ether to trade higher whilst above $2'820 with a move above $3'145 expected, that could lead to an acceleration higher back above $3'600.
