Crypto-Currencies: Bitcoin, Litecoin and Ethereum for March 3rd

Crypto-Currencies: Bitcoin, Litecoin and Ethereum for March 3rd

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 — The retest is still in progress and we have not yet made target at 4613. Once seen we will see a retest of he monthly pivot or possible the lower support trend line. Right now expecting short term lower for a wave C then a reversal and first target. Cycle date in April still the main theme here.

ETHUSD — Retest in progress as mentioned last week, still expecting first target at the 100% fib, lean is lower for the first part of this week to complete wave c – then higher to first target,

 

LTCUSD – LTC is leading the way to the upside as seen last week. I expect this theme to continue. For now expecting lower over the next few days to complete wave C then higher into the monthly R1 at 55.76. The April high is still expected.

My lean is that the uptrend will continue, watch the the retrace to complete this week then expect a 5th wave higher to complete the short term pattern. Another retest will follow then higher prices into April. Trade smart and trade safe.

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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