The Retracement back to 159.64 looks like a 4th wave decline from the 173.47 levels which measures a retracement between 38.2 - 50% of wave - 3
Wouldn't wanna see any price action close below the bottom of recent gap.
The very recent price action from Feb 3rd to Feb 11th unfolded Wave-4 in the form of an elliott wave triangle.
Anticipating a move towards 2145 Levels for the short term.
We wouldn't like to see any price action below the end of the wave (E) of the triangle.
ETH likely to test 1900-1940 levels before a significant retracement back to 1485-1600 Levels.
These levels (1485-1600) would be a better level to enter long on the ETHUSD targeting the prices around 2100 USD.
For the very short Term:
Bitcoin Price is likely heading towards 52000-53000 levels.
Intermediate Term:
A Wave-4 Pullback that can drag the Price of BTC back to the levels of 47000-44000 is still possible.
Long Term:
BTC is still Bullish and can reach 58000-64000 Levels in the Long Term
Anticipating a Wave-5 move back down to 104.4 Levels
Traders Setup would be as shown in the chart. Traders can take an entry at the current levels with a stop loss at 105.184 and the Target price of 104.343
Seems like Intermediate Wave-4 will end between 1.38310 - 1.38394
Trade Opportunities:
Aggressive Traders Can Enter in the given entry range for the wave 5 up with a Stop Loss near 1.38105
Conservative traders can wait for the break of the Orange Trend Line and put a stop near the low made before breaking the orange trend line
