Crypto-Currencies: Bitcoin, Litecoin and Ethereum for December 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 retest of the low on BTC and still looking for the next legg up and support at the rising support trend line.Expect greater volatility this week.

 

ETHUSD – Retesting the low and rising support trend line must hold. Still expecting the next rally into 5400s, should see a break above the middle band to confirm the move.

 

 

LTCUSD – LTC is retesting the low and the support trend line is a must hold. Not expecting a break of the support trend line, should see a turn this week with a USD drop.

 

Retesting the low is a common issue on turns, the retests in these markets will likely completed this week and greater volatility is expected.   USD may have turned and should confirm lower lows this week. I expect USD to continue to devalue and  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 Dec 2021

2 thoughts on “Crypto-Currencies: Bitcoin, Litecoin and Ethereum for December 5th”

  1. Stan- I always check out your Sunday update. I see you made an update for 12/5 but it doesn’t look like it incorporates the resent sell off Friday night into Saturday. Does this recent move change your stance now that support trend lines are broken

    1. The globex move was not in my charts until the open this evening and we have recovered above 49000, likely we will continue to rally, any push below the 3SD a good short term buy.

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