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 — Fed Chair speaking this week twice, so expect volatility. BTC in the retest now and not yet at target, we should see an RSI of 30, still needs another legg lower to 20000. This is a significant turn in Cryptos, expecting to see significant upside from here. Waiting patiently for the setup.
ETHUSD – The short term high is in and 5 up structure now retracing. Should 1410 and if support, we have a long term reversal in ETH and likely the Crypto sector.
LTCUSD – The turn is in here too and lower expected to play out to $82 then look for a turn to confirm a longer term uptrend that may be beginning.
No significant change here in the structure so not much new to discuss. We have a possible turn here in Cryptos, looking for more upside after the retracement. The low may be in, waiting on the confirmation when we find the expected support. Trade Smart and Trade Safe.
05th Mar 2023