Crypto-Currencies: Bitcoin, Litecoin and Ethereum for November 7th

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 with the other charts showing negative D and ETH about to retest, look for BTC to complete a three down to the second standard BB and monthly pivot. Once seen, the bullish impulse should continue.

 

ETHUSD – ETH with a negative D setup and looking for 4000 and the second standard Bollinger Band as target. Once seen, the bullish uptrend will continue.

 

LTCUSD – LTC is lagging the other Cryptos, negative D on RSI will force a pull back to 170-172 then higher highs should continue.

 

Retest are the theme this week as we have negative D on RSI on two of the three Cryptos. ETH is the most stretched and should see the deepest retrace. More upside expected across the board one the retest is complete. 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.

07th Nov 2021

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