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 — No change is forecast from last week…… Turned and finding support at monthly pivot as discussed. Looking at RSI and the bollinger bands, this retracement is incomplete. Ideally seeing the lower band and also a full three down retracement structure would be a better buy. The lean is bullish and a back test of the broken trend line is likely.
ETHUSD – Appears that a wave C is missing in the retracement structure. Cryptos have a way of blowing out support into the 2nd and 3nd BB bands, so likely we will se another legg lower. This is a bullish move to new highs and this is just a simple retracement, lean long once the lower bollies are seen.
LTCUSD – No change in forecast here, likely we see a three down structure as a retracement. Once the flag finishes, look long here as Cryptos have started the next bullish legg higher.
Lower is expected in a wave C across the Cryptos. Once seen, the next bullish move is expected which could be later this week. USD should continue to devalue and I am expecting Cryptos to continue to be bullish. Trade Smart and Trade Safe.