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 may have turned, but the formation is likely a flag, so watch for a high around the 23rd of October and a lower low. I am still bullish but the cycle date is too short term so I have selected the next date which is in March. Watch for 9500 in early November for a buy.
ETHUSD – ETH looks like a flag is printing and likely we see a lower low to the monthly S1. Watch for support around 283 and a buy in early November.
LTCUSD – LTC has broken the trend line and will likely follow BTC. Watch for the S1 as support in early November at around $37.
Crypto’s may still pull back here, as the formation on BTC appears to be a flag, so look for this to retrace higher and head lower in the short term. The next move higher will come but likely we see the lower low first. Should be a great buying opportunity when seen. Trade Smart and Trade Safe.
04th Oct 2020