Crypto-Currencies: Bitcoin, Litecoin and Ethereum for December 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 has made the higher high as mentioned last week and we have a short setup. This means take profits and wait to add size lower. The key here is the negative D on RSI with a consolidation and minor higher high. This will trigger a pullback and still higher highs into our March window. I remain bullish into March of next year and would advise taking profits and slimming positions down to trailer side here.

 

ETHUSD – A minor higher high here too and not quite at the R1 which can still be seen.  A nice short setup which means slim down positions and wait to add size lower.  Look for a retest of the monthly pivot at 535 then higher highs into March.  I remain bullish into March, more upside to come after a pull back/ consolidation completes.

 

LTCUSD – Wave Y may be complete here with neg. D setup on RSI and likely we see a pull back and higher highs as discussed. I have extended the target to the 100% fib here as we have the time to get there. Watch for 104-105 as a support area.  I am still expecting a higher high into March as discussed.

 

Crypto’s have all made a minor higher high last week and have set neg D on RSI – more consolidation this week and next and another big move higher expected. Take some profit here and hold a small position and add size lower.  I remain bullish Crypto’s into March of next year. 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 Dec 2020

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