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 — A lower low with the extreme volatility last week. Investors seeking the sidelines and we are back to the base trend line. I am expecting a recovery this week as indexes should squeeze higher after the Sunday open lower. Fed meeting this Wednesday should help bolster the markets.
ETHUSD — Risk off environment for now and a retest of the low. I am expecting a reversal this week into the Fed on Wednesday. Appears to be a three down structure and a wave C playing out. Watch for the base trend line on BTC to hold.
LTCUSD – A retest of the low on LTC and with the volatility last week, investors seeking cash and the sidelines for now. Watch indexes recover this week and expecting a turn in Cryptos
There was no rotation into Crypto’s last week with the expected fall in indexes. With a possible short term low in place in indexes, watch for Crypto’s to reverse this week. Important that the base trend line on BTC hold in order to see higher prices. Trade Smart and Trade Safe.