Crypto-Currencies: Bitcoin, Litecoin and Ethereum for April 17th

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This is a weekly post covering Cryptocurrencies, specifically  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 — Retracement as discussed last week and may be turning here. Lower bollie is support and a break and conversion of the flag trend line and we have the next legg higher. Middle band should convert into support to confirm the next rally.

 

ETHUSD –   ETH testing 3000 as discussed, look for the flag trend line to convert this week and follow through for the next rally.

 

LTCUSD – Lower band here being tested and is critical support. Lean is long and expecting a turn this week and higher prices. Watch BTC for clues.

 

This week look for the reversal in Cryptos. ETH has made the retest target of 3000 and higher highs should lay out.  Volatility will remain high this week so mind your size.  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.

16th Apr 2022

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