Crypto-Currencies: Bitcoin, Litecoin and Ethereum for November 29nd

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 — Per last week, the marginal higher high played out to reset neg D on RSI and the decline has started. The decline is expected to continue after a small retest and lower into 1550 or so. Watching for a three back and then higher highs into March as discussed. The trend line that has been overthrown is possible support, I am expecting the floor ceiling just below.

 

 

ETHUSD – No reset of negative D on RSI here, extremely overbought market and as a result a direct drop into middle band. Looking for a three back after a retest of weekly pivot, more downside is expected to give RSI a break, below 40 is expected. Still expecting a higher high into March as discussed.

 

 

 

LTCUSD – Higher high here and a neg D setup as discussd and a nice rejection. Look for the three down to comlete after a retest of weekly pivot. Expecting lower into $63 then a higher high into March as discussed.

 

Crypto’s have all pulled back as expected. Marginal higher highs set up negative D on RSI on 2 of 3 and now looking for a three back to complete wave X. Correlating charts is important when trading or investing to help see what is possible. Not all signals will work 100% of the time, as was the case with ETH. Wave X expected across the board once we get some relief on RSI. . I remain bullish Cryptos into March 2021. Our annual Black Friday / Cyber Monday sale is on now for memberships with a 20% discount, click here for more information.  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.

29th Nov 2020

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