Crypto-Currencies: Bitcoin, Litecoin and Ethereum for October 25th

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 broken up from the flag last week and should retest the flag resistance trend line this week.  RSI is over bought and I am looking for a pull back and higher into the March timing window and 15840 . The X wave is now confirmed as in.

 

 

ETHUSD – ETH has broken the flag and should retest the support trend line this week before seeing the March high window and $500. The pull back is a good spot to add size or get long as the break up confirms the X wave is in.

 

 

LTCUSD – LTC  has broken above the monthly pivot and is above weekly pivot. Very seldom does LTC break above these two levels without a retest bacl into at least weekly pivot. I am expecting a pull back this week to $49 and then continuation higher into 3-18 target of $100.

 

 

The flags on ETH and BTC have broken up which is a bullish sign. Retests in the short term are expected back into the resistance trend lines at a minimum. Should be a great buying opportunity when seen later this week. I remain bullish into March 2021.  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.

25th Oct 2020

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