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 — The low is now broken as expected and price still needs to go lower. Look for an RSI of 30-40. Cryptos are buy-able and almost at a long setup.
ETHUSD – New swing low and not yet at target of 1720, no setup yet, needs a wave C lower into 3rd SD band. RSI of 30-40 are good areas to consider.
LTCUSD – Look for a conversion of the high to confirm the turn is in. This should be seen on the next rally after the retest is done, not yet fully 3 down.
Start accumulating Cryptos on buy-able pullbacks, no setup yet but we are getting very close. Looking for a long setup when we see a wave C lower and an RSI in the 30-40 range. Trade Smart and Trade Safe.