Crypto Setups – 7 May

BTCUSD Intraday Setup:

Support: $54,300, $52,000-$52,250, Red dotted trendline, $49,250, $46,800, $43,700, $41,400

Resistance: $57,050-$57,450, $60,550, $62,950, $67,800, $69,500

We need a breakout above $57,450 to get a bullish impulsive move. We need to be extra careful today from a fundamental event (US Job Data).


ETHUSD Intraday Setup:

Support: $3,278, $3,030, $2,875, $2,740, $2,630, $2,470, $2,360, $2,200

Resistance: $3,500, $3,680, $4,000, $4,350, $4,700

Adjust the WZRD lines. Ethereum is moving choppy and now following Bitcoin as ETHBTC is moving slow. We are also getting a chart pattern formation in the H1 chart. We have to wait for maturity. Today is the last official trading day in this week, we need to be cautious. Above $3,500 Ethereum will move higher towards $3,680 zone.


LTCUSD Intraday Setup:

Support: $340, $310-$313, $285-$289, $269.50, $242-$247

Resistance: $373.50-$376, $395, $450

Litecoin is moving highly volatile we need a dip or bullish breakout from the intraday lines to get a long position. As you saw from the market update of LTCBTC that it has way more room upside which will push Litecoin higher and higher time frames are strongly bullish.


XRPUSDT Intraday Setup:

Support: $1.5250, $1.4300, $1.3200, $1.2800, $1.1400, $1.0000

Resistance: $1.6420, $1.8150-$1.8300, $2.0800-$2.1150, $2.3800-$2.4000

XRP is having a pullback and at the same time, it is forming a falling wedge which should breakout upside. Above $1.6420 XRP should be moving bullish.


Open your eyes & utilise. These are calls indicating what the market is going to do. Draw these lines on your charts and trade them!

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