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 — Not much has changed from last week…..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 when we are in the right target area.
ETHUSD – We have a trend line break, watching for the next long setup, target is around $200. Looking for a setup on RSI, none there now, a lower low is required. 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.
Still being very patient with the Cryptos, I am still waiting on the next long setup. We may see it this week. Higher volatility expected in the coming weeks, OPEX is behind us. 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.