Crypto-Currencies: Bitcoin, Litecoin and Ethereum for March 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 — A three wave pattern retracement looks complete and this has exceeded the yellow box target for the retracement. Next steps are a reversal and a wave C and likely a retest of the low. Watch for a penetration of the second standard deviation Bollinger band as major turns usually do this n BTC. Wave Y begins once this completes.

 

ETHUSD – Lower high and now let’s see wave C lower. The retest of the low should see the second SD Bollinger Band. The idea is to see the top of wave Y as previous resistance which should turn into support. Again, big upside should follow.

 

LTCUSD – Three wave sequence to the upside should be a wave B here and look for the low retest as wave C. Again wave Y follows more upside expected. LTC had the largest retracement and a double bottom may play out.

 

 

Cryptos all moving in sequence into a wave B and likely all three will retest the low. Will we make a lower low? Maybe. I am expecting the next big advance after the low retest occurs. 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 Mar 2021

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