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 — Not much has changed from last week, we are still printing a flag and a rally expected into 43500 – if we convert then expected higher highs. We can see a deep retrace from that area directly into the lower bollie as support. Middle band should convert into support to confirm the next rally.
ETHUSD – ETH 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 in the next rally.
LTCUSD – Lower band is critical support. Lean is long and expecting a turn and higher prices. Watch 123 and a conversion this week and higher highs. If not we can still see the support trend line.
Cryptos need a rally to test a resistance level to confirm the next legg higher. These confirmation levels are critically important from a pattern point of view. Break up and convert those numbers and we have the next major rally. Volatility will remain high this week so mind your size. Trade Smart and Trade Safe.