Crypto-Currencies: Bitcoin, Litecoin and Ethereum for March 17th

Crypto-Currencies: Bitcoin, Litecoin and Ethereum for March 17th

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 — There is a lot of compression on the daily chart and bollinger bands are pinched. Still looking for the 4613 target area. Once seen, we will see a retest of the monthly pivot or possibly the lower support trend line. Cycle date in April and prices higher still the main thesis here.

 

ETHUSD — Compression here too and I am still expecting first target to 189 and the 100% fib. I am expecting a move this week higher and an expansion from the compression. Still looking for an April cycle high.

 

LTCUSD – LTC is still leading the way to the upside and not much compression here. So I expect bigger moves in the other Cryptos. I am expecting the monthly pivot to continue to hold as support. The lean is still higher into $75 into April and the April cycle high is still expected.

 

With the compression this week and the pinch in the bollies, I am expecting an expansion this week higher. My lean is that the uptrend will continue 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. 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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