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 rally should top out around 34000 then see a retest of the low before reversing. Cryptos in general are going to follow this pattern as the consolidation before breaking up.
ETHUSD – ETH rally should continue to 2400 and the broken support trend line before retesting the low. This is a larger three down which is a retracement pattern. Higher highs will come once this completes.
LTCUSD – LTC rally is expected into the broken support trend line then it should retest the low before advancing. Watch ETH for clues as it should lead the way higher. LTC will follow.
Cryptos forming a consolidation pattern and may still see lower lows to complete the pattern. Levels provided as to the resistance areas and if seen look for a setup long lower. The USD has turned and these pair may get bullish after a retest. Volatility will remain high this week so mind your size. Trade Smart and Trade Safe.
22nd May 2022