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 is retesting middle band after the impulse last week from the 3rd SD band, looking for continuation higher this week. This is a news driven tape, and this week I am looking for more upside as the turn is likely in. We should see a rally back into upper band and a band ride next.
ETHUSD – Retesting here also and trend line support just below. As long as the previous low holds, we should see new highs this week. It is possible that this is a triangle so if a compression pattern develops then we could see a lower low, not likely this week.
LTCUSD – Higher low after a touch of the 3rd SD band and still leaning bullish here. Still looking 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. Higher lows across the board after a 3rd SD touch. The next major legg higher on Cryptos is beginning and ETH is the crypto to watch as the bullish move may be more pronounced. Trade Smart and Trade Safe.
06th Mar 2022