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 — Lower low as discussed, also a punch of the 3rd SD band so this is a good looking setup long. We can still see lower to 900 which would be more of a wash out and buyable. Cryptos in general are going to follow this pattern before breaking up. Look for a 24000 print next.
ETHUSD – ETH is nearing a bottom and should hold the 900 area. Punch of the 3rd SD band here too. This is a great setup as long as the base trendline holds.
LTCUSD – Positive D in place here and looking for a confirmation of a turn above the monthly pivot. ETH may see one more low before a turn, this week is a good stop to legg into a small sized trade.
Lower lows have played out across the board. This is a significant long setup. USD is expected to turn which will support Crypto pairs. Volatility will remain high this week so mind your size. Trade Smart and Trade Safe.
19th Jun 2022