Crypto-Currencies: Bitcoin, Litecoin and Ethereum for March 28

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 — This week caution advised as we are three back and a high retest could occur. Looking for the remainder of wave C lower to complete the retracement pattern as discussed. Again, looking for a break of the 2nd SD band to consider a long. This is likely a larger retracement pattern give the price action on ETH and LTC.

 

ETHUSD – Lower high and now wave C is playing out. Could turn into a running flag so watch the structure as this unfolds lower. Looking for the 1300 area for a long setup.

 

LTCUSD – Wave C underway here and looking for a double bottom. This chart a better classical representation of a retracement pattern. Likely we see the lower low here then the reversal. Good to correlate turns across all three of these instruments as the patterns a usually slightly different and one usually is simple to interpret.

 

Cryptos all moving in sequence into a wave C and likely all three will retest the low. 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.

28th Mar 2021

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