BTC looking strong on hourly for the next run to 10.5k.
Going long on ETH here which is possibly the take off zone for ETH for next move to 170-180.
Currently, we see these two possibilities on BTC. 8700 should be the decision-maker.
Of course, we are not opening short this way. However, we feel the local top on BTC is somewhere here. Either we descend from here or from 9.2-9.4k(Another retest). And we go to 6.8-5.8k. Make sure you have the right stops in place for your logs and alts.
If you are bullish tell me why can't this happen?
We still expect one bounce from here to 9k and then the big dump.
Currently BTC is at 0.786 of the last move down. And also forming a double top. Its a good R:R if we short here. Rejection would be above last top of 5650. If we break that, I would enter a short again till 5.8k
Currently we see a rising wedge on BTC which should get broken downwards. But if we follow the same fractal we should see a final leg up till 5.4-5.5k and then a dump to 5k and then further to 4.6-4.8k.
We are long on BTC till 5.5k as it appears it might try to break it again and would fall to 4.6k. All this should happen till last week of April and 1st week of May.
ETH has to pull back to 120 before it can go for another run for 200+. This pullback starts either now or after touching 152 on this current channel. Here is what fractals tell us if it starts now.
Just like BTC ETH has also found a local support. While entire market remains bearish and I hear a lot of FUD in the market, I am long on ETH and hoping for a move till 146-148. Support on ETH right now is with the lower trendline as well as with the schiff pitchfork.
On a daily chart it looks like BTC is on the way to kiss resistances formed by trendline from Dec. 2017 and Nov 2018. We expect a move up till 4.2 or a wick till 4.3 by tomorrow or max day after. And then a move back till 3.7k or 3.6k.