Bitcoin
Last week we were looking for:
a move up towards the $20'500/$21'000 area where we would sell with stops remaining at $22'800. We still expect a drop in the BTC to new yearly lows to end the correction off the yearly highs
We traded to $19'946 before selling off and remain on alert for the final leg down towards the $17'500 level. A move back above $22'800 will signal a low is in place for BTC.
Ether
In the last update we said:
I changed the wave count to show a larger zigzag correction playing out. Look to sell in the $1'480/$1'555 area stops at $1'660. A break below $1'300 should see an acceleration lower and I would buy now in the $1'000/$1'100 range
We never saw higher trader down to $1'193 before reversing back up. Although this new low could be counted as the low in ETH I am showing, and prefer a larger corrective triangle playing out and still expect to see a push towards $1'000 before a long term low is in place. A move back above $1'565 would be the first signs a low is in place.
