Happy Holidays to everyone. All the best for the New Year!! Covering Cryptos this week, 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 reversal higher may be starting and the three down retracement structure may be completed. Converts 38600 and the declining resistance trend line we have made the turn. Resistance there calls price lower to retest the low.
ETHUSD – Possible turn here too, looking for a squeeze higher this week and a conversion of the trend line at 3190 would open higher highs. Resistance at that area calls price lower to the second longer term support trend line at 2000. Watch for the conversion this week. ETH should be the first to confirm higher.
LTCUSD – Too early to tell, but likely we see higher prices this week and the turn confirms on conversion of 156.50. Look for new highs later this year.
Look for a squeeze higher this week and check the confirmation levels given as if they convert we should see the start of the next major move higher. USD has made higher highs and is making a decision this week if the high is in, a turn lower here would help. ETH is the crypto to watch as the bullish move may be more pronounced. Trade Smart and Trade Safe.
30th Jan 2022