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 — Rally has made target and I am expecting a turn later this week and a retest into the monthly pivot at 8087. Take profits and perhaps leave a trailer as I am expecting higher prices once we see a retracement pattern complete.
ETHUSD — Rally has made target here and has over thrown the upper channel as well. Again, this can consolidate here for a few days but next move is lower into a support test at monthly pivot at $183.
LTCUSD – LTC is lagging the other Crypto’s and we ave found resistance at the monthly R1. Watch for monthly pivot support and a rally into the next high window around the 5/24 timing cycle.
Nice profits from our call for a turn at the low and a text book rally. An over throw of the upper channel trend line is bearish short term and a pull back is needed. Play the long side and stay with the trend…. wait for the next long setup. Trade Smart and Trade Safe.
03rd May 2020