Crypto-Currencies: Bitcoin, Litecoin and Ethereum for August 16th

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 — No change in forecast, 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 and is outperforming BTC. We have a higher high here and not in BTC which is in a triangle. Look for a retrace this week 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 has consolidated.  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.

 

No change in forecast from last week. A triangle on BTC means we could see a small press higher before the pull back. 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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