Crypto-Currencies: Bitcoin, Litecoin and Ethereum for May 29th

Crypto-Currencies, Front Page / By

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 — BTC should see a small wave C rally before seeing a lower low. Positive D setup coming and when seen this is a clear buy.  Cryptos in general are going to follow this pattern as a consolidation before breaking up.

 

ETHUSD –   ETH  has broken support trend line and should break the low. This is a larger three down which is a retracement pattern. Higher highs will come once this completes.

 

LTCUSD – LTC  rally may be complete for now and it should retest the low before advancing. Watch ETH for clues as LTC will follow.

 

Cryptos are forming a consolidation pattern and may still see lower lows to complete the pattern. Lower lows expected across the board and when seen this will be a significant long setup.   USD has turned and these pair may get bullish after the retest.  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.

29th May 2022

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