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 — Retracement as discussed last week and rally expected into 43500 – if we convert then expected higher highs. We can see a deep retrace from that area. Lower bollie is support and Middle band should convert into support to confirm the next rally.
ETHUSD – ETH testing 3000 as discussed, look for 3250 to convert to confirm the uptrend. If it does not convert we can see follow through lower to 2300. Decision getting made this week in the next rally.
LTCUSD – Lower band is critical support. Lean is long and expecting a turn this week and higher prices. Watch 123 and a conversion this week and higher highs. If not we can still see the support trend line.
This week look for the reversal and confirmation in Cryptos. The confirmation levels are critically important from a pattern point of view. Break up and convert those numbers and we have the next rally. Decision this week. Volatility will remain high this week so mind your size. Trade Smart and Trade Safe.