Crypto-Currencies: Bitcoin, Litecoin and Ethereum for July 15th

Crypto-Currencies: Bitcoin, Litecoin and Ethereum for July 15th

Crypto-currencies are now mainstream trading instruments. I am providing charts in this blog on a weekly basis. I plan to cover just three cryptos: Bitcoin, Litecoin, and Ethereum. The point of this weekly post is to show the crowd psychology behind the price movement to support high-quality trades.

BTCUSD — So far so good as the turn is setting up here. We have an inverted H&S and also positive D on RSI. See the monthly pivot at 6645 convert and likely we open the 8-3 window. The current swing low must now act as support if tested. Middle band conversion if the next step on Monday.

 

ETHUSD — As mentioned, the turn window was expected around 7-5, so we now have positive D and have retested the low.  Break higher and convert monthly pivot and we likely we see higher prices into 580 by the 8-3 window.

LTCUSD – This crypto has done a full double bottom retest. 72s must hold here and the channel needs to break higher. Any conversion of monthly pivot at 93 and we likely see prices impulse higher into the 8-5 window. A trend line break conversion and the low is confirmed.

Since the break down of the triangle, we have been heading lower as discussed. We have nice reversal patterned here with cycle dates pointing higher. Bull must perform this week. Lows have been retested and they now must hold.

 

About the Author

Stan Nabozny
Stan is a 20 year retail trading veteran and Co-Founder of The Art of Chart. A registered Commodity Trading Advisor, his specialties include using futures and options to trade Energies. Precious Metals, Equities, Currencies, Bonds, Softs, Grains and other commodities. Stan believes that Risk Management and Trader Psychology are more important that technical analysis and spends his time teaching and coaching other traders on these topics . Stan uses various trading systems and technical analysis approaches that integrate time and price in his work. See his latest articles here and www.huffingtonpost.com.

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