Crypto-Currencies: Bitcoin, Litecoin and Ethereum for March 7th

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 — Bounce this week as expected and likely we see a lower high and a three wave retracement pattern. Once complete the low should be retested. More upside this week on BTC.

 

 

ETHUSD – Nice advance as discussed, now finishing wave c on B then low retest is still expected.  Once we see the retest, look to buy more Cryptos as the next legg up should be a wave Y.

 

 

LTCUSD – Three wave sequence top the upside should be a wave B here and look for a low retest. LTC had the largest retracement and a double bottom may play out.

 

Cryptos all moving in sequence into a wave B hen lower expected to retest the low. Will we make a lower low? Maybe. I am expecting the next big advance after the low retest occures. 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.

07th Mar 2021

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