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 — An overlapping choppy flag is still printing. Expecting a print lower to finish this pattern and a strong long setup. Lower to 16000 would be more of a wash out and buy-able low or a double bottom should be next. No change in forecast from last week.
ETHUSD – A higher low is possible here into 1250-1220. A lower low is a gift and a strong buy. This is my preferred Crypto coin, should be seeing institutional support later this year.
LTCUSD – Flag also printing here so this can retest the low before turning. BTC may see one more low before a turn with the other Cryptos. If so then LTC will follow.
A lower low here is a strong buy for a longer term hold in BTC and if seen, we may see the same with LTC. ETH may see a higher low while the others see a lower low. The lean is long here and the market is turning. Mind your risk until the turn is confirmed. This is a significant long setup across Cryptos. Volatility will remain high so mind your size. Trade Smart and Trade Safe.
07th Aug 2022