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 — No change to forecast. I issued a buy signal eight weeks ago as we had a dip into our retrace target of 25200. Consolidation above the broken resistance trend line means we see a push higher then retest back into this area. We have had a decent retrace and can see the broken trend line, looking for support there. Lean is long into 45000.
ETHUSD – No Change In Forecast. Buy signal here, made retrace target at 1720 and looking long from there. Consolidation pattern signals continuation, looking for a pop. Hold into 3500.
LTCUSD – No Change In Forecast. Issued a buy signal here as well. LTC is now confirmed long into 200. Likely see a higher high before a meaningful retest.
Cryptos are on a buy signal, the broken resistance trend line is the next support test but the consolidation here is signalling higher directly first. Lean is long here into September. Trade Smart and Trade Safe.