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

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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 — A turn is in progress and looking for the next legg higher this week. The the flag formation should  break higher and still looking into the April window for the higher high.

 

ETHUSD — Reversal expected this week and a turn is in progress now.  Look for the next legg higher this week. We should see money from China retreat into Crypto’s as indexes fail.

 

LTCUSD – Pull back close to complete here also and looks like a reversal pattern with a marginal lower low. Looking for a turn this week and the next step higher into April.

 

With indexes failing this week, we could see a rotation into Cryptos, 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.

08th Mar 2020

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