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 — A three wave pattern retracement looks complete and this has exceeded the yellow box target for the retracement. Next steps are a reversal and a wave C and likely a retest of the low. Watch for a penetration of the second standard deviation Bollinger band as major turns usually do this n BTC. Wave Y begins once this completes.
ETHUSD – Lower high and now let’s see wave C lower. The retest of the low should see the second SD Bollinger Band. The idea is to see the top of wave Y as previous resistance which should turn into support. Again, big upside should follow.
LTCUSD – Three wave sequence to the upside should be a wave B here and look for the low retest as wave C. Again wave Y follows more upside expected. LTC had the largest retracement and a double bottom may play out.
Cryptos all moving in sequence into a wave B and likely all three will retest the low. Will we make a lower low? Maybe. I am expecting the next big advance after the low retest occurs. These pairs will continue their bullish run as the USD continues to fall throughout the year. I remain bullish Crypto’s. Trade Smart and Trade Safe.