Crypto-Currencies: Bitcoin, Litecoin and Ethereum for October 20th

Crypto-Currencies: Bitcoin, Litecoin and Ethereum for October 20th

I plan to cover just three cryptos every week in this post: Bitcoin, Litecoin, and Ethereum. These instruments provide trading opportunities with out sized gains. I hope the analysis presented here helps you profit in these instruments.

BTCUSD — Nothing has changed since last week….. Still looking at a small flag pattern and a lower low with a measured move into the 7522 area. I am expecting a small wave 5 and a positive D setup on BTC to take it higher. New highs are still expected.

 

ETHUSD — Still looking for a lower low and positive D on RSI and still looking for monthly S1 support at 143.85. This drop represents a buying opportunity for Cryptos. Wait for a reversal pattern to form before buying.

 

LTCUSD – Lower low already here, not yet on other Cryptos, Wait for the reversal pattern before buying. This week may be the buying opportunity for Cryptos and the reversal we have been looking for.

 

As mentioned last week, still expecting a lower low on Cryptos and a positive D setup on RSI. This will strengthen the long setup. Wait for the reversal pattern before buying. 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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