Crypto-Currencies: Bitcoin, Litecoin and Ethereum for April 12th

Crypto-Currencies: Bitcoin, Litecoin and Ethereum for April 12th

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 — Looking for continuation higher this week after a retest into Monthly pivot. 6499 is support and higher expected. The next BIG step is to break the declining resistance trend line and see a band ride higher. The 4-15 window is this week.  Mind your stops below the low as a break of the base trend line will see a big exhale.

 

ETHUSD — Retest of the middle bollie is very likely into the 143 area and higher highs are expected.  The bullish sign will be a break and conversion of the monthly pivot to turn this chart to the upside.

 

LTCUSD – This week looking for a retest into 38.70 and higher highs. If this area breaks we can open the lower band quickly so secondary support is 34.89. Lean is still higher into May.

 

Last week we have seen the monthly pivot break and this week  it will be tested and likely broken. Key for this week’s trade is to find support as mentioned and convert monthly into support. This seen we see the next step higher in Cryptos.  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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