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 compressing and the result of this compression could go lower. This week with the Fed is going to be a volatile week so mind your risk. Lean is still long and if we see the lower 3rd SD band, buy it again. We should see a rally back into upper band and a band ride next.
ETHUSD – Compression here also, and same outlook, waiting on a middle band conversion and a confirmation to the upside. As long as the previous low holds, we should see new highs this week.
LTCUSD – Higher low after a touch of the 3rd SD band and still leaning bullish here. Compression should resolve to the upside and post Fed we should see a decisive move. Expecting new highs later this year.
The turn in Cryptos may be in. Higher lows across the board after a 3rd SD touch. Beware of the compression and the potential drop in the USD that may be coming post Fed. Increased volatility this week so mind your size. Trade Smart and Trade Safe.