Crypto-Currencies: Bitcoin, Litecoin and Ethereum for August 15th

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 — As discussed last week, we are now through the declining resistance trend line and negative D is set up on RSI – watch for a retest and higher. Natural support should be the broken trend line. Overall forecast is still higher as the USD should continue to decline.

 

ETHUSD –  RSI is overbought so expecting a small retest before seeing the next major move higher. Middle band is still expected to be support on any retest. Look for the retest this week.

 

LTCUSD – Nice rally this week and RSI is overbought, chances are that we see a pull back and higher highs. Watch the middle bollinger band for support.

 

Middle band is your marker for support at this point and higher highs are expected across all Cryptos. the rally has played out as expected ans RSI is overbought, expect a buyable pull back this week. USD should continue to devalue and I am expecting Cryptos to continue to be bullish. 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.

15th Aug 2021

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