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 — Target made at 16000 and looking for a long setup, expecting a minor lower low from this short term consolidation pattern. A major turn in Crypto is brewing and looking for a reversal across the board and a long term uptrend. WAIT FOR A CONFIRMATION before making a long trade here.
ETHUSD – Target made here too. Consolidation pattern says lower lows coming ad looking for a long setup. RSI needs to see a lower low first. Wait for a confirmation above the declining resistance trend line.
LTCUSD – Almost made target here and can see a bit lower first before a turn. Consolidation pattern here points to a lower low and a long setup once seen.
Cryptos are very close to a long term reversal here. Watch BTC for clues as this should lead the way higher. Declining resistance trend line when they break and convert, buy Cryptos!! Still looking for a long term trend up so mind your risk until the turn is confirmed. Trade Smart and Trade Safe.