Crypto-Currencies: Bitcoin, Litecoin and Ethereum for December 15th

Crypto-Currencies: Bitcoin, Litecoin and Ethereum for December 15th

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 — We are in a compression pattern just below the middle band and with all the announcements last week, I am surprised that BTC has not broken higher. I expect the middle band to be converted into support then monthly pivot to follow.  Looking for higher into next year and 15,000. Monthly pivot once confirmed will need to hold as support

 

ETHUSD — No positive D yet here on ETH, and if seen this provides a stronger long setup. Look for a possible rally in BTC and we could turn higher directly. The compression pattern that is forming should expand this week. If we see the lower low, watch for a reversal around the 131 area.

 

LTCUSD – Again, no positive D here on LTC and I am still watching for the monthly S1 pivot for a possible test this week. LTC is in a compression pattern and I am expecting the pattern to expand this week. LTC is oversold and a marginal lower low provides a stronger setup. If we convert the middle band we head higher directly. Positive D here is preferred.

 

The trend according to my cycle work is still to the upside. Compression is present on all charts which is an indication of a coming move. My lean is higher directly and if seen the positive D may not happen on ETH and LTC.  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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