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 — BTC made the decision last week to convert the trend line and higher prices had happened. I am looking for a three back and plan to buy BTC. Lots of room for this rally to the upside, looking for a three swing back to buy, should come close to being at the previous high to create a floor ceiling. Looking for this setup early this week.
ETHUSD – ETH has confirmed the upside break out last week, this has outperformed BTC and I am looking for a three back retracement structure to set up a long. We have until October for the next high so likely we see 275 before we see higher prices.
LTCUSD – LTC has broken up with BTC and I am looking for the same setup as BTC, a three back retracement to get long. This could come in at the previous high and if seen this would form a floor ceiling type structure.
The break up is a clear confirmation of continuation of the trend, so now we look to enter on a pull back. Three swings back and we will have an entry. Trade Smart and Trade Safe.
02nd Aug 2020