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 — Still expecting continuation higher in Cryptos as we have not yet seen the higher high and neg D setup on RSI. Looking for 15,000 next as the first wave higher on BTC. Currently compressing, possible triangle here but the expansion I am looking for is higher directly.
ETHUSD — Retracement wave looks complete, three back and continuation higher expected here also into the 430 area in the next few months. This should take us into the October time frame, looking for the reversal to start the next legg up this week.
LTCUSD – A three down retracement wave appears complete here, so expect the next legg higher directly into the 230 area. The retracement pattern should break back above monthly pivot and gain bullish strength this week. The support trend line for the move is just below and must hold or the trend will be in question.
Still looking for the completion of the first bullish legg higher. A negative D setup on RSI is what I am looking for before we see any significant downside. No resolution to the trade war so money should continue to move into Cryptos. Trade Smart and Trade Safe.