Crypto-Currencies: Bitcoin, Litecoin and Ethereum for May 30th

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 — It appears as if we have a turn as mentioned last week. USD should continue lower this week and as a result expecting BTC to  continue to rally. Watch the middle bollie for a confirmation, currently at 43,669.

 

ETHUSD – First push off the bottom as expected last week and now a support test at weekly pivot. It holds expect more upside and a confirmation above middle band which is currently at 3151.

 

LTCUSD – An overthrow of the support trend line and looking for more upside after the support test. Weekly pivot support or trend line support expected and watch for middle band conversion to confirm the turn and next impulse currently at 254.

 

Looks like the turn has begin on Cryptos, this week I need to see continuation higher and conversion of the middle bands to confirm this turn. So far so good on the reversal discussed last week. USD should continue to devalue and expecting Cryptos to continue to be bullish. All retracements are a buying opportunities. More volatility to come. 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.

30th May 2021

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