Crypto-Currencies: Bitcoin, Litecoin and Ethereum for March 22nd

Crypto-Currencies: Bitcoin, Litecoin and Ethereum for March 22nd

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 — So far the base trend line has held. I am expecting a pop lower which should find support at 5280 and a move higher into mid-April. Mind your stops below the low as a break of the base trend line will see a big exhale.

 

ETHUSD — A possible reversal is here, Need to see the low hold and a rally this week. Again mind your stops below the current low as we could see a mass exit below the BTC base trend line.

 

LTCUSD – A retest of the low on LTC and with the volatility last week, investors seeking cash and the sidelines. Some risk on here but it does look like a flag. A pop lower that holds the low is a buy here and I am expecting continuation higher once the low is tested.

 

There was some buying last week at the base trend line on BTC. This is an important low that is being put in here and the base trend line must hold. Do not be long below this trend line as we could see an exit into cash.. 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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