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 — Finally a move on Cryptos and this is a retracement pattern which should open lower lows. Can see another 500 handles higher then look for a turn lower. Likely we see 16,000. This is a major turn in Crypto and looking for a reversal across the board and a long term uptrend.
ETHUSD – Looking for trend line resistance and the retracement pattern has slightly higher to go. Once the trend line proved resistance then lower lows to at least 1100 is likely.
LTCUSD – Same forecast here too, looking at $56 as resistance and lower lows expected for a long term setup.
Finally some movement out of the consolidation and a retracement pattern is printing. This is not done yet and has higher to go. Watch BTC for a reversal as this should lead the way lower. Still looking for a long term long setup sp mind your risk until the turn is confirmed. There is a significant long setup coming across Cryptos, this is not it. Trade Smart and Trade Safe.
30th Oct 2022