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 — We are testing the middle bollinger band on BTC Currently. I am expecting it to confirm as support this week, If seen and the subsequent rally converts the monthly pivot, the turn is confirmed. Looking for higher into next year and 15,000. Monthly pivot once confirmed will need to hold as support
ETHUSD — No positive D yet here on ETH, and if sen this provides a strongr long setup. We could break higher directly and if BTC does convert monthly pivot, likely this trends higher. This week is a key week for the rally in Cryptos. If we see the lower low, watch for a reversal around the 131 area.
LTCUSD – Again, no positive D here on LTC, and I am still watching for the monthly S1 pivot for a possible test this week. LTC is oversold and a marginal lower low provides a stronger setup.
The trend according to my cycle work is still to the upside. We are oversold across the board on Cryptos. Key week timing wise on BTC, so bull need to show up. Trade Smart and Trade Safe.
08th Dec 2019