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 has seen the small wave C as predicted and likely will see a lower low. This consolidation pattern will likely create a terminal thrust lower with a Positive D setup coming on RSI. Cryptos in general are going to follow this pattern before breaking up. Look for a 24000 print.
ETHUSD – ETH us breaking down and should see 1400 as a lower low. Look for a punch of the third SD band which will complete this larger three down retracement pattern. Higher highs will come once this completes in the 1400 area.
LTCUSD – Lower lows expected here and looking for a setup long to follow the other Cyptos. Watch ETH for clues as LTC will follow.
Cryptos are forming a reversal pattern this week and will see lower lows to complete the pattern. Lower lows expected across the board and when seen this will be a significant long setup. USD is expected to turn which will support a turn in these Crypto pairs. Volatility will remain high this week so mind your size. Trade Smart and Trade Safe.