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 — Broken divergence here and on a wave Y sometimes happens, so the negative D setup has been cancelled. Looking for a marginal higher high to reset neg D then look for the next decline. Still looking for a wave X next then higher highs into next year. There is now an overthrow of a trend line and likely target for wave X is into 13600-800 and then higher to target. Still expecting higher highs from BTC into 2021.
ETHUSD – Broken negative D here too, and the same is expected, a marginal higher high to reset neg D and then next next decline for wave X. Expecting this week to see the higher high first, then the pull back for wave X then higher highs into March as discussed.
LTCUSD – Higher high here and LTC is playing catch up. Nice expansion and also broken negative D, this will reset on a higher high to the trend line and then expect the pull back. We are very extended here which is not unusual for a wave Y.
Crypto’s have all broken the negative D setup last week and will reset with a marginal higher high. When seen we should see wave X then higher highs. BTC is above a trend line in a possible overthrow. LTC has played catch up as discussed. I remain bullish Cryptos into March 2021. Trade Smart and Trade Safe.
22nd Nov 2020