Crypto-Currencies: Bitcoin, Litecoin and Ethereum for September 27th

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 has not occurred yet and if it does we are in the next impulse higher. Still looking for same target 15840 by the end of October.

 

 

ETHUSD – ETH looks like a flag has printed and as discussed we have seen a retest of the support trend line. At this point, I am expecting a rally and the previous low should hold. BTC will be setting the tone for this sector Monday/Tuesday. This confirms on a conversion of the daily middle BB.

 

 

LTCUSD – LTC has broken the trend line as expected and now I am looking for a reversal. Watch BTC for clues early this week as it is still possible that BTC retest the low. For now convert the middle BB and we see the next impulse start.

 

Crypto’s may still pull back here but we are very close to a reversal.  BTC should lead the way for watch for clues early this week.  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.

27th Sep 2020

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