Crypto-Currencies: Bitcoin, Litecoin and Ethereum for November 22nd

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 — Broken divergence here and on a wave Y sometimes happens, so the negative D setup has been cancelled.  Looking for a marginal higher high to reset neg D then look for the next decline. Still looking for a wave X next then higher highs into next year. There is now an overthrow of a trend line and likely target for wave X is into 13600-800 and then higher to target. Still expecting higher highs from BTC into 2021.

 

ETHUSD – Broken negative D here too, and the same is expected, a marginal higher high to reset neg D and then next next decline for wave X.  Expecting this week to see the higher high first, then the pull back for wave X then higher highs into March as discussed.

 

LTCUSD – Higher high here and LTC is playing catch up. Nice expansion and also broken negative D, this will reset on a higher high to the trend line and then expect the pull back. We are very extended here which is not unusual for a wave Y.

 

Crypto’s have all broken the negative D setup last week and will reset with a marginal higher high. When seen we should see wave X then higher highs. BTC is above a trend line in a possible overthrow.  LTC has played catch up as discussed.  I remain bullish Cryptos 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.

22nd Nov 2020

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