Crypto-Currencies: Bitcoin, Litecoin and Ethereum for October 31st

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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 — BTC middle band retest looks complete with a three back structure. Looking for this flag to break higher this week. Target and forecast is unchanged.

 

ETHUSD – ETH a little ahead of BTC and has retested the high as expected,  look for a pull back and test of the monthly pivot then higher highs expected.

 

LTCUSD – LTC is lagging the other Cryptos, more upside is still expected and a three back completed last week. Still expecting target of 375.

 

Middle band retest on BTC as expected and higher highs should now play out. ETH will outperform here and expecting a retest this wek which is a buying opportunity. Middle band is support on ETH and BTC. 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, CTA (Commodity Trading Advisor) 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.

31st Oct 2021

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