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

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

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 — BTC has reversed as discussed, and is retesting the monthly pivot and may see broken tend line resistance. I am looking for continuation higher this week and a conversion of the monthly pivot. This occurs, and look for new highs early in 2020.

 

ETHUSD — Basically in the same place as BTC, above monthly pivot and likely to see more of a retest and perhaps broken trend line resistance. The lean is higher and looking for a rally by end of this week and higher highs.

 

LTCUSD – Above monthly pivot and needs a bit more of a retest lower, not expecting to see broken trend line resistance, should see a rally by the end of this week and 200DMA in the next two weeks, The reversal looks like it is in.

 

It appears that we have reversed, looking for a confirmation of the turn by seeing the monthly pivot convert. We should see Crypto’s retest early this week then rally into the end of this week. 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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