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.