Crypto-Currencies: Bitcoin, Litecoin and Ethereum for December 8th

Crypto-Currencies: Bitcoin, Litecoin and Ethereum for December 8th

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 — We are testing the middle bollinger band on BTC Currently. I am expecting  it to confirm as support this week, If seen and the subsequent rally converts the monthly pivot, the turn is confirmed. Looking for higher into next year and 15,000. Monthly pivot once confirmed will need to hold as support

 

ETHUSD — No positive D yet here on ETH, and if sen this provides a strongr long setup. We could break higher directly and if BTC does convert monthly pivot, likely this trends higher. This week is a key week for the rally in Cryptos. If we see the lower low, watch for  a reversal around the 131 area.

 

LTCUSD – Again, no positive D here on LTC, and I am still watching for the monthly S1 pivot for a possible test this week.  LTC is oversold and a marginal lower low provides a stronger setup.

 

The trend according to my cycle work is still to the upside. We are oversold across the board on Cryptos. Key week timing wise on BTC, so bull need to show up. 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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