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 — No retest last week and still looking for one with the negative D on RSI – the retest is still expected which is a buying opportunity. Monthly pivot should hold as support and still looking for continuation higher into April.
ETHUSD — No retest here either and still looking for some relief on RSI – no negative D here so a possible higher high can play out before a retest. Give the rally expected RSI needs to reset to support a larger rally. This is a buying opportunity.
LTCUSD – Looking for a retest here as we are overbought on RSI. Look for a buying opportunity on a three back structure and watch for $50 as support this week.
Retesting across the board and a wave three about to begin? RSI is overbought and likely we see a pullback and higher. My lean is higher into October on Cryptos. Trade Smart and Trade Safe.
09th Feb 2020