Cryptocurrencies price prediction: Bitcoin, Litecoin, EOS - American Wrap - 03 September

BTC/USD jumps toward $11,000 as Bitcoin ETF by SolidX, VanEck set to launch to institutions

A Bitcoin Exchange Traded Fund (ETF) is finally here – albeit in a limited fashion. VanEck and SolidX – which have received several delays to their Bitcoin ETF requests – will use an exemption to launch a limited version of such instruments to institutional investors. 

The firms will use an exemption that allows selling to certain institutional investors. The Wall Street Journal has broken the story and says that Bitcoin ETFs will be available from September 5. 

BTC/USD has responded positively to the news, extending its gain. The granddaddy of cryptocurrencies is now trading at $10,700 after having topped $10,000 on Monday. 

Litecoin technical analysis: LTC/USD bulls retesting breached bearish pennant structure

Litecoin price on Tuesday is trading in positive territory by 3.80% in the second half of the session. LTC/USD upside is going to be heavily capped by a strong prior support zone seen at $70. 

The bulls are retesting a breached pennant structure, which at present continues to contain the price. 

EOS/USD technical analysis: EOS breaks longer-term level but momentum might slow down

Above is the 4-hour EOS/USD chart and it has broken a major trendline on the higher timeframes (see chart below).

The RSI indicator is showing something called a bearish failure swing, this is sometimes known as a bearish hidden divergence. It can be an indication that prices may fall from here. 

On the downside 3.00 seems to be an area of psychological support but now price waves have made a higher high and higher low we could see a break of the next resistance at 3.41 which price briefly printed above earlier on in the session.