Crypto-Currencies: Bitcoin, Litecoin and Ethereum for February 23rd

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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 — Pullback playing out as expected, looking for  a possible lower low and reversal this week and the next legg up into April. Still looking long in BTC.

 

ETHUSD — Pull back here may be a triangle which is a correction in time instead of price. Lean is still long and looking for a possible lower low before the next step higher into April.

 

LTCUSD – Pullback as expected here and no triangle, a clear flag is printing. Likely this breaks higher and I am expecting continuation higher into April.

 

Overall the pullback is playing out as expected. Three swings back on BTC and LTC and a possible triangle on ETH. Looking for a break higher this week. My lean is higher into October on Cryptos. Trade Smart and Trade Safe.

Written by:

Stan Nabozny

Stan is a 20 year retail trading veteran, CTA (Commodity Trading Advisor) 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.

23rd Feb 2020

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