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 — Trend line break to the upside and a possible turn here. The retracement wave is likely done. Key is support at broken trend line resistance or 6600. A conversion of Monthly Pivot will confirm the turn.
ETHUSD — We likely see a small wave 4 and lower for 5 to set up positive D here. The wedge pattern should break up. BTC may see a higher low, and ETH can see a lower low. We are close to a reversal here. Watch for a reversal around the 131 area.
LTCUSD – I am still watching for the monthly S1 pivot for a possible test this week, we should see positive D on RSI. LTC is oversold and a marginal lower low provides a nice setup.
The trend according to my cycle work is still to the upside. We are oversold across the board on Cryptos. Lean long here with a reasonable stop below. Trade Smart and Trade Safe.
01st Dec 2019