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 — Retracement working out as expected, price still needs to go lower, almost at target 25200. No change in forecast. 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. No change in forecast, RSI of 30-40 are good areas to consider.
LTCUSD – No change in forecast, looking 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.
Waiting on a full setup for the next buy point for Cryptos. Lean is long here into September. Looking for a long setup when we see a wave C lower and an RSI in the 30-40 range on BTC or ETH. Trade Smart and Trade Safe.
04th Jun 2023