I plan to cover just three cryptos every week in this post: Bitcoin, Litecoin, and Ethereum. These instruments provide trading opportunities with out sized gains. I hope the analysis presented here helps you profit in these instruments.
BTCUSD — Expecting higher prices directly from the low Friday as we have monthly pivot and weekly pivot support. Looking for 15,000 next as the first wave higher. We should see a larger retracement once the first wave finishes to the previous degree wave 4 which is currently is in the monthly pivot area. Chances are we see a larger rally from there.
ETHUSD — Retracement wave looks complete, expecting a higher high into 434 next . ETH is lagging BTC and should continue to do so. Higher high expected this week.
LTCUSD – Retacement wave competed here also, expect the next legg higher directly into the 230 area. I am still expecting LTC to outperform in the Crypto space. We should see 50% back the previous swing at the next high then a larger pull back.
We have a least another week of upside, maybe two, to complete this first bullish legg higher. A negative D setup on RSI is what I am looking for. Until then we are in buy the dips mode. Technically we are in a last legg of the first bullish structure. No resolution to the trade war so money should continue to move into Cryptos during this next legg higher. See a resolution to the trade war and we see a move lower across the Cryptos. Trade Smart and Trade Safe.
07th Jul 2019