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 — Turn is not confirmed yet. BTC still needs a pull back first and a support test. RSI not yet at target, we should see an RSI of 30, still needs another legg lower to 18500-700. This is a significant turn in Cryptos, expecting to see significant upside from here. Waiting patiently for a setup.
ETHUSD – The short term high is in and 5 up structure now retracing. Should see 1340 or 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 this week to $78 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 day. We have a possible turn here in Cryptos, looking for more upside after a retracement. Watch ETH as it is the best formed pattern among the Cryptos. The turn may be in, waiting on the confirmation when we find the expected support. Trade Smart and Trade Safe.
26th Feb 2023