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 — Turn may be in as we have broken the resistance trend line and now a retest is in order and can see 38600 and the declining resistance trend line as support. Support there calls price higher.
ETHUSD – Possible turn here too, looking for a conversion of the trend line at 3190 which will 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 confirm higher this week.
LTCUSD – Look for a conversion of 156.50. If seen then this is also confirmed higher and should see new highs later this year.
Watch the confirmation levels this week as the turn on Cryptos may be in. This turn should start the next major move higher. USD has made higher highs and has turned lower. ETH is the crypto to watch as the bullish move may be more pronounced. Trade Smart and Trade Safe.
06th Feb 2022