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 — Still looking for the turn here and a confirmation above the middle bollinger band. Looking for a break above middle band and a band ride higher. USD needs to decline as the flag may be complete here. More downside on DX more upside on this pair.
ETHUSD – The tend line last week was breached and looking for a resistance on the back test. If seen we can go lower. For now given the double bottom retest and the setup on BTC, am staying long on ETH.
LTCUSD – A lower low and a possible turn here – wait for all of these to cross middle band before committing capital. Onhce we convert middle the odds of success go up. Looking for the conversion this week and higher to the upper band next.
The Fed meeting two weeks ago sent the USD wrecking ball higher which had the inverse impact on these pairs. I am still looking for a reversal in this area and the middle band is still the arbitrator of success for the bulls. Bull are in must perform this week to see continuation higher on Cryptos. USD should continue to devalue and I am expecting Cryptos to continue to be bullish. I remain bullish Crypto’s. Trade Smart and Trade Safe.