Bitcoin/Ethereum

Bitcoin

The hesitation in front of the 24,500 long term target lasted a week, but didn't break. Now that it has taken out 24,500 the next long term target is 32,100. They have already reacted from the second major Gann square at 28,400 mentioned as levels to watch for resistance and there is still another one at 30,500 before the new long term target. On a failure to hold 24,500 look for 22,400 and then 21,300.

Ethereum

The first break from the 590.00 long term swing point (38.2% back to the all-time high), split 23.6% back to the 3/13/20 low and 38.2% back to the 9/7/20 low (495.00 to 500.00 on 11/26/20). The fact that this was all they could break after hitting 38.2% to the ATH was a very positive sign. It took a few weeks of trading around to final get a solid close above 590.00. The first setback after new highs for the move on 12/24/20 held the long term swing point of 590.00 on a closing basis. The long term target is still 750.00. On any break from the new highs you should look for support at 38.2% of the last leg up, this currently is 562.00, also in this area is 23.6% back to the 3/13/20 low, you can now use this as the long term swing point. With a solid close, preferably two above 750.00 the next target area becomes 915.00 to 922.00, the first is 61.8% back to the ATH and the second is a major Gann square.