Sunday Notes (14 May 2022)

BTC and ETH right on the target (see post from Dec, 26 2021) with ETH overshooting a bit below forecasted target so it opened a possibility for 1,476<>1,453. 

BTC still needs to stay above 26,403<>24,800 and fail to do will indicate weakness and open next level targets down as a possibility. 

So we still need a strong bounce of this latest lows to have just an indication of possible bottom and end of the larger correction from previous all time high tops.

Based on the structure of the upward correction from recent lows, I suspect larger correction is not over and we can expect possible breaks below recent bottoms both in BTC and ETH.

BTC

if it stays above 26,591 short term it's min targets up are first 34,505<>36,590<>38,126 and 42,775 later, but after a small correction more probably up to 47,774<>52,773.

Break above first 52,773 and then 59,891 is the first indication of a possible continuation of the uptrend to new time highs, but just after a break above 68, 958 will be a confirmation.

Break below 26,591 negates this and opens lover level targets.

ETH

if stays above 1,763 bottom, min targets up would be 2,495<>2,948 and break above first 3,680 and then 4,201 first indication of a continuation up, but just a break above 4,864.90 is a confirmation to that.

Break below 1,763 will negate this and opens lower level targets 1,476<>1,453.

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