Crypto-Currencies: Bitcoin, Litecoin and Ethereum for September 20th

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 may have turned, a clear conversion of middle band will confirm. There is no positive D here so there is still a chance of a lower low to complete the pattern. We should see a decision on BTC early this week.

 

 

 

ETHUSD – ETH looks like a flag has printed and likely we see a retest of the support trend line. No positive D here so likely we see the retest first before we confirm a turn. Middle band is resistance currently.

 

 

LTCUSD – LTC has no rally and is putting in positive D now, looking for the other Crypto’s to join. I am expecting a reversal early this week. It appears that LTC has overthrown the support trend line. This can only last a day or so, bulls need to perform here.

 

 

Crypto’s may still pull back here. I am expecting a confirmation of a reversal this week. The next move higher may be marked with a gap which is a typical wave 3 type move after a pull back. 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.

20th Sep 2020

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