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 — A volitile week expected this week with FOMC and CPI and Quad-witch. Great context for the lower low I am expected. Stand aside and wait for the setup, looking for a long term long setup which may arrive this week. A major turn in Crypto is brewing and looking for a reversal across the board and a long term uptrend.
ETHUSD – Small consolidation pattern which is a continuation pattern which points lower. Volatile week ahead so lean into a low retest here.
LTCUSD – This pattern is a flat, so expecting a lower low and the wave C appears to have just completed. Lean lower here and a lower low creates a long setup.
Cryptos are very close to a long term reversal here. Watch BTC for clues as it should lead the way higher. The volatility Wednesday should push Crypto into the zone I am expecting. The declining resistance trend lines 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.
11th Dec 2022