Crypto-Currencies: Bitcoin, Litecoin and Ethereum for Sept 5th

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 decline in the USD and an advance in Cryptos – BTC is behind other cryptos as ETH is leading the way. Monthly pivot is now support at 44817 and higher highs are expected.  Overall forecast is still higher as the USD should continue to decline this week.

 

ETHUSD – Nice pop in ETH with the USD drop and retesting middle band is next then higher highs. ETH will advance more than BTC going forward. Target is still the 5500 area.

 

LTCUSD – Negative D on RSI is set up and chances are that we see a pull back and higher highs. Watch the middle bollinger band for support.

 

Negative D is now setup and expecting a support test and higher. USD drop last week provided the fuel for a rally, higher highs are expected across all Cryptos. 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.

05th Sep 2021

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