Previous analysis… https://analysis.tfxi.com/2021/07/27/triumphfx-cryptocurrency-update-july-august-september-2021/
Bitcoin (BTCUSD) – Daily & Weekly Charts
As suggested in our last cryptocurrency analysis, price continued to find support around 30300 and has since been bullish.
Bitcoin is clearly up-trending – price action has formed a series of higher swing highs and higher swing lows. Price is currently forming a swing higher. The daily and weekly moving averages are bullish and steady, signalling that the uptrend may continue.
Buying opportunities could exist around the dynamic support of the daily and weekly moving averages, around the daily trend support area and around any of the horizontal levels at 59950, 52750, 40625, 31750 and 29750. BTCUSD may be rejected or reverse off the recent highs at 63550.
Ethereum (ETHUSD) – Daily Chart
Ethereum has been bullish.
Price continues to be choppy and look indecisive at times. Overall though, ETHUSD is up-trending. The daily moving averages are bullish and steady, suggesting that the uptrend could continue. If price becomes indecisive again though, Ethereum could start ranging between 2750 and 3950.
Long opportunities may exist around the dynamic support of the moving averages and around the horizontal levels at 2750, 2385 and 1775. A bullish move could stall or reverse around the horizontal resistance levels at 3950 and 4165.
Litecoin (LTCUSD) – Daily & Weekly Charts
As suggested in our last LTCUSD chart analysis, price has been bullish.
Litecoin is looking indecisive again but is showing some signs of bullish momentum – price action is forming a higher swing low on the weekly time-frame and the weekly moving averages are bullish and widening. The daily chart is showing clear indecision though – both price and the moving averages are moving sideways.
Trading opportunities could exist around the moving averages and around any of the identified horizontal levels at 24.10, 80.10, 107.60, 118.70, 139.80, 231.40, 317.40 and 388.10.
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