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 — Flag has broken up and BTC is compressing and the result of this compression could go higher or lower. Lean is long here into the upper bollinger band to signal the next advance. This week DX should drop and this pair should advance.
ETHUSD – ETH is a step ahead and is breaking up giving an early signal for the rest of the Cryptos. Middle band at this point is critical as support and higher highs expected.
LTCUSD – Compression should resolve to the upside and we should see a decisive move. Expecting new highs later this year.
The turn in Cryptos may be in. ETH giving an early signal so follow through this week is critical. Beware of the compression as it can resolve downward. More likely is the potential drop in the USD that may be coming. Volatility will remain high this week so mind your size. Trade Smart and Trade Safe.