Crypto-Currencies: Bitcoin, Litecoin and Ethereum for April 19th

Crypto-Currencies: Bitcoin, Litecoin and Ethereum for April 19th

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 continuation higher this week as we are now just breaking the declining resistance trend line. I am looking for a bollinger band ride higher into the end of this month. Mind your stops below the low as a break of the base trend line will see a big exhale.

 

ETHUSD — Middle bollinger band has been retested and higher highs are expected. The bullish sign is a conversion of the monthly pivot to turn this chart to the upside. Monthly pivot needs to hold this week.

 

LTCUSD – This week looking for a move higher and the lower logrolling band to hold. LTC should follow BTC. Lean is still higher into May.

 

Key for this week’s trade is to find support as mentioned and convert monthly pivot into support. Converting the BTC declining resistance trend line is also bullish. This seen we see the next step higher in 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.

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