Crypto-Currencies: Bitcoin, Litecoin and Ethereum for February 14th

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 rallied last week and made a higher high. Still expecting the rally to last into March 27th. Support is now at the monthly R1 at 42086. We are concluding the first major wave up on BTC, likely 52500 by March 27th. Major degree wave Y is still to come after the retracement, more upside to come in BTC in 2021.

 

ETHUSD – Rally as expected and more upside coming into 3-18 window. Retest this week and support at 1500 expected.  Should see a choppy advance targeting 2000 in March.

 

 

LTCUSD – Impulse higher as expected and monthly R1 pivot is now support. Still expecting a March high, support is at 160. Pullbacks are buying opportunities.

 

ETH is leading to the upside, BTC and LTC should follow. The advance is still expected into March. This week I am expecting a pull back – use the 2nd and 3rd SD Bollinger bands on a daily basis for guidance on entries. These pairs will continue their bullish run as the USD continues to fall throughout the year. I remain bullish Crypto’s. 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.

14th Feb 2021

Leave a Comment

Your email address will not be published. Required fields are marked *