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 — Nice move as discussed last week and we are retesting the low on BTC. Lower to 16000 would be more of a wash out and buy-able low or a double bottom should be next. Bands need to expand then looking for a long setup.
ETHUSD – A higher low is possible here into 1250. A lower low is a gift and a strong buy. This is my preferred Crypto and with the merge coming in September. We should be seeing institutional support later this year. Not yet at 3rd SD band, once seen look long.
LTCUSD – Lower as expected and a retest of the low here expected. Also a possible higher low at $39, if we convert this area then a lower low will open.
A retest of the low sets the tone for a turn. With the bollinger band are extremely tight, expect and expansion first before the turn. More downside expected first the a long setup with RSI in the 30s expected. Mind your risk until the turn is confirmed. This is a significant long setup across Cryptos. Trade Smart and Trade Safe.
21st Aug 2022