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. Bollinger bands are extremely sight which indicated compression is building for a move. 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. Higher low also possible 19820.
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 and with the merge coming this month we should be seeing institutional support later this year.
LTCUSD – Flag also printing here so this can retest the low before turning. I am expecting a possible higher low at $39, if we convert this area then a lower low will open.
A consolidation has been occurring on BTC and the bollinger band are extremely tight which indicates a move is about to occur. Lean lower as a low retest is needed and the market overall is turning. Mind your risk until the turn is confirmed. This is a significant long setup across Cryptos. Trade Smart and Trade Safe.
14th Aug 2022