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 has formed a flag as discussed and most likely we see the flag break lower this week. A marginal higher high is still possible, but ETH and LTC have already started the decline. I am still bullish but the cycle date is in March. Watch for 9500 in early November for a buy.
ETHUSD – ETH looks like a flag has printed and a decline has started. I am expecting to see the lower bollie at a minimum into early November and possibly the monthly S1. Watch for support around 283 and a buy in early November.
LTCUSD – LTC flag has also broken and looking for a retest of the low before seeing the turn into March. Watch for a turn into the end of October. The decline should continue this week.
Crypto’s are in a retracement pattern and the formation on BTC appears to be a flag. The flag on ETH and LTC has appears to have turned, no trend lines broken yet. The retracement should continue into late October. The next move higher will come but likely we see the lower low first. Should be a great buying opportunity when seen on late October/early November. Trade Smart and Trade Safe.
18th Oct 2020