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

Crypto-Currencies: Bitcoin, Litecoin and Ethereum for September 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 — The triangle is still valid and playing out in BTC, still looking for wave D in three waves to the trend line then the pullback for wave E and then the thrust higher. As the tariff war continues and the Yuan devaluation continues, we should see continued money flow into Cryptos. Target is still 15,000 once the triangle breaks out.

 

ETHUSD — Expecting a rally to begin as we continue higher in wave D on BTC.  The real thrust will get going higher after the triangle on BTC breaks up.  Should see continuation higher this week. First upside target 267.

 

LTCUSD – When BTC breaks out of the compression pattern, we should see an expansion in the other Crypto’s including LTC. Looking for a rally this week to create some separation from the low.

 

The low from last week needs to hold on BTC and continuation higher is required to the triangle trend line. Bull are in must perform mode. Given BTC’s position in the triangle, we should expect wave D to finish higher this week. 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.

Comments are closed.