Crypto-Currencies: Bitcoin, Litecoin and Ethereum for March 21st

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 — Wave B may be complete and likely path is lower to retest the low before seeing wave Y begin in earnest to the upside. We should see a print between the 2nd and 3rd SD bands which is a clear indication of a buy.

 

 

ETHUSD – Lower high and a wave B also, and looking for a retest of the low and a print between the second and third SD bands. Once seen look for the next move to the upside on ETH.

 

LTCUSD – A lower high here and a B wabe and likely we see a retest of the low before we see more upside. Watch for a penetration of the 2nd SD band for a buy signal.

 

Cryptos all moving in sequence into a wave c and none of them have made target on RSI. More downside here to finish a larger pattern lower as a flag is a likely long setup.  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.

21st Mar 2021

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