This is a weekly post covering Cryptocurrencies, specifically 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 — BTC retesting the low here and made the 3rd SD band which is an ideal spot to buy. The news last week drove the markets and this week I am looking for more upside as the turn is in and we should see a rally back into upper band and a band ride next.
ETHUSD – Broken trend line support as mentioned last week and now looking for higher directly. News driven tape and also made the rising support trend line. ETH should confirm higher this week.
LTCUSD – Lower low and a touch of the 3rd SD band and still leaning bullish here. NEws driven tape last week and look for a conversion of 156.50 to confirm the bullish move. Should see new highs later this year.
The turn in Cryptos may be in. The next major legg higher on Cryptos is beginning and USD has made higher highs on a news based tape and has turned lower. ETH is the crypto to watch as the bullish move may be more pronounced. Trade Smart and Trade Safe.