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 — Per last week, the marginal higher high played out to reset neg D on RSI and the decline has started. The decline is expected to continue after a small retest and lower into 1550 or so. Watching for a three back and then higher highs into March as discussed. The trend line that has been overthrown is possible support, I am expecting the floor ceiling just below.
ETHUSD – No reset of negative D on RSI here, extremely overbought market and as a result a direct drop into middle band. Looking for a three back after a retest of weekly pivot, more downside is expected to give RSI a break, below 40 is expected. Still expecting a higher high into March as discussed.
LTCUSD – Higher high here and a neg D setup as discussd and a nice rejection. Look for the three down to comlete after a retest of weekly pivot. Expecting lower into $63 then a higher high into March as discussed.
Crypto’s have all pulled back as expected. Marginal higher highs set up negative D on RSI on 2 of 3 and now looking for a three back to complete wave X. Correlating charts is important when trading or investing to help see what is possible. Not all signals will work 100% of the time, as was the case with ETH. Wave X expected across the board once we get some relief on RSI. . I remain bullish Cryptos into March 2021. Our annual Black Friday / Cyber Monday sale is on now for memberships with a 20% discount, click here for more information. Trade Smart and Trade Safe.