Crypto-Currencies: Bitcoin, Litecoin and Ethereum for June 12th

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 has seen the small wave C as predicted and likely will see a lower low. This consolidation pattern will likely create a terminal thrust lower with a Positive D setup coming on RSI.  Cryptos in general are going to follow this pattern before breaking up. Look for a 24000 print.

 

ETHUSD –   ETH  us breaking down and should see 1400 as a lower low. Look for a punch of the third SD band which will complete this larger three down  retracement pattern. Higher highs will come once this completes in the 1400 area.

 

LTCUSD – Lower lows expected here and looking for a setup long to follow the other Cyptos. Watch ETH for clues as LTC will follow.

 

Cryptos are forming a reversal pattern this week and will see lower lows to complete the pattern. Lower lows expected across the board and when seen this will be a significant long setup.   USD is expected to turn which will support a turn in these Crypto pairs.  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.

12th Jun 2022

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