Crypto-Currencies: Bitcoin, Litecoin and Ethereum for August 9th

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 topping out with wave 1, pullback is a buy at the monthly pivot 10600 with lots of room for this rally to the upside. Looking for this setup this week for a long.

 

ETHUSD – ETH has confirmed the upside break out last week, and is outperforming BTC.  Retrace this week is a but in the 306-320 area. Expecting higher prices into October. Crypto’s are a buy on the pull back.

 

LTCUSD – LTC has broken up with BTC and I am looking for the same setup. Three back into the monthly pivot and then higher. Looking for a high in October, this has room to run to the upside after the retrace.

 

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. Watch for monthly pivots as support and mind your stops below this level. Trade Smart and Trade Safe.

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