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

Crypto-Currencies: Bitcoin, Litecoin and Ethereum for July 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 — Looking for the long entry this week, we are getting close to target. Watch for the monthly R1, around 8700ish as a target. Once seen looking for the next rally to begin. Will be entering carefully when we are in the right target area.

 

ETHUSD – Lower low and looking for an entry this week long, target is around $200. Looking for a setup on RSI, none there now, a lower low is required. Patience is needed.

 

LTCUSD – Long setup not here yet bit likely we will see it this week. The setup should occur around the monthly S1 around $40. Once seen looking for the next rally to make new swing highs.

 

Still being patient with the Cryptos and I have been on the sidelines trading other instruments. Play the long side and stay with the trend…. wait for the next long setup. Patience is key with 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.

Leave a Reply