Crypto-Currencies: Bitcoin, Litecoin and Ethereum for November 8th

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 — On the wrong side of  BTC last week, there was no pull back just more expansion to the upside. There is now an overthrow of a trend line and likely higher prices after we see wave X – target for wave X is back into 13600-800 and then higher to target. Still expecting higher highs from BTC.

 

 

 

ETHUSD – ETH did pull back and then more upside has occurred. Less that BTC’s advance but still a significant move. This week I am looking for a pullback and higher highs into the March window. I am still bullish on ETH.

 

 

 

LTCUSD – LTC has pulled back and expanded higher and is in the way to the high window in March. Monthly pivot from this point forward should see support and I am expecting more upside from there. LTC has the smallest upside move of these three Cryptos.

 

Pull backs on LTC and ETH have broken up and BTC without a pull back has continued higher. BTC is in wave Y and it can extend, it is above a trend line in a possible overthrow. I am looking for a larger pull back for wave X and then higher prices are still expect into March. LTC has catch up to do between now and then. have begun but have more to go 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.

08th Nov 2020

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