I plan to cover just three cryptos every week in this post: 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 triangle has been playing out for weeks in BTC and we are finally at a decision point. Break above triangle resistance and likely we see continuation higher into 15,000. The tariff war appears to be resolving itself but the October talks are not here yet and no definitive agreement is yet in place. With the missiles in Saudi Arabia, likely attention will be directly at that conflict this week, but the Yuan is worth watching as it advances so will BTC. Any break of the triangle support trend line and the triangle is resolving lower, 30% chance.
ETHUSD — Looks like a reversal pattern on ETH and a higher low. Convert the monthly pivot this week (blue line) and likely we will see the rally begin. A break up on BTC is also a clue.
LTCUSD – When BTC breaks out of the compression pattern, we should see the rally in LTC also. Like ETH, LTC has a reversal pattern and we should see the monthly pivot convert this week and higher prices. Watch BTC for clues and the rally invalidates on BTC breaking triangle support.
The setup is finally mature and a decision is expected this week. Break up from the triangle (70% chance) and we see the rally. Bull are in must perform mode. Given BTC’s position in the triangle, we should expect a break up sometime later this week. Trade Smart and Trade Safe.
15th Sep 2019