TriumphFX – Cryptocurrency Update – April, May & June 2021


Previous analysis… https://analysis.tfxi.com/2020/12/31/cryptocurrency-update-january-february-march-2021/

Bitcoin (BTCUSD) – Daily & Weekly Charts 

Bitcoin Weekly Chart
Bitcoin Daily Chart

As suggested in our last crypto chart analysis, Bitcoin has been bullish.

BTCUSD has swung much higher. Price is clearly up-trending – price action has formed a series of higher swing highs and higher swing lows. The weekly moving averages are bullish and widening, suggesting that the uptrend may continue.

The daily time-frame is also showing a clear uptrend with bullish moving averages.

Buying opportunities could exist around any of the key Fib levels, around the dynamic support of the daily and weekly moving averages and around the horizontal levels at 44730, 40000, 30300 and 19130. An attempt to swing higher may be rejected or reverse around 58735 and 59950.

Ethereum (ETHUSD) – Daily Chart 

Ethereum Daily Chart

Price has been bullish, as suggested in our last ETHUSD chart analysis.

Ethereum is clearly up-trending – price action has formed a series of higher swing highs and higher swing lows. The moving averages are bullish and steady, suggesting that the upward direction could continue.

Opportunities to go long may exist around the bullish moving averages and around the horizontal levels at 1952, 1874, 1576 and 1415. ETHUSD could find resistance around the recent highs at 2110.

Litecoin (LTCUSD) – Daily & Weekly Charts 

Litecoin Weekly Chart
Litecoin Daily Chart

On the weekly time-frame, Litecoin is ranging and looking indecisive. The moving averages have been crossing frequently and moving sideways – confirming the market indecision. Recent price action has been bullish though, suggesting a potential uptrend.

LTCUSD is up-trending on the daily time-frame. The moving averages are bullish and steady, suggesting that the uptrend may continue. Price may start ranging between 164 and 238.

Trading opportunities could exist around the daily and weekly moving averages and around any of the identified horizontal levels at 24.10, 40.80, 68.70, 89.00, 122.25, 135.00, 164.25, 237.25 and 316.50.

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