Crypto-Currencies: Bitcoin, Litecoin and Ethereum for April 5th

Crypto-Currencies: Bitcoin, Litecoin and Ethereum for April 5th

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 — No change in forecast from last week, the base trend line should continue to hold and looking for the initial move to finish 5 up into 4-15. Once seen retest 50% back and continuation higher expected.  Mind your stops below the low as a break of the base trend line will see a big exhale.

 

ETHUSD —  Mind your stops in this environment as a break of the low may bring big selling. This appears to be a flag but I am looking at a rally instead based on the BTC chart. The bullish sign will be a break of the monthly pivot to turn this chart to the upside.

 

LTCUSD – Watch for a small move higher to finish the initial rally early this week. A pop lower that holds the low is a buy here and I am expecting continuation higher once the low is tested.

 

The base trend line must hold on BTC, any penetration of the previous low should bring big selling, mind your stops. 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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