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 broken and still waiting on the long setup, likely around the R1, watching for 8700ish as a target. Once seen looking for the next rally to begin. Will be entering carefully as an increase in volatility is expected.
ETHUSD – No break in the trend line yet, but expecting one to occur. Watching for the next long setup, target is around $200. Trend line should break this week and the retest will show us a setup on RSI. Patience required.
LTCUSD – Sideways consolidation as discussed, still looking for a long setup which should occur around the monthly S1 around $40. Once seen looking for the next rally to make new swing highs.
The consolidation call three weeks ago was on target and I am still waiting on the next long setup. We may see it this week or next week. Higher volatility expected in the coming weeks with the broader market, will impact Cryptos too. Play the long side and stay with the trend…. wait for the next long setup. Patience is a key skill in trading, nothing to do right now in Cryptos except wait. Trade Smart and Trade Safe.
14th Jun 2020