Crypto-Currencies: Bitcoin, Litecoin and Ethereum for September 13th

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 — BTC has made target and consolidating. I continue to look for a small move lower to finish the pattern with would be a small wave 5 of a flat then expecting a reversal and higher prices. Look for this turn this week.

ETHUSD – ETH has also made target and was against the lower bollie. Currently, I see a flag and a symmetrical 3 wave move back which should lead to a lower low and the trend line. I am expecting a turn this week and higher into October 2020.

LTCUSD – LTC has finished the retrace and is testing the base support trend line. LTC may see a lower low and I am expecting a reversal this week with the other Crypto’s. LTC should follow BTC.

 

Crypto’s are a buy here with this pull back. I am expecting a reversal this week. The next move higher may be marked with a gap which is a typical wave 3 type move.  Trade Smart and Trade Safe.

Written by:

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.

13th Sep 2020

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