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

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 — An overlapping choppy flag is still printing.  Expecting a print lower to finish this pattern and a strong long setup.  Lower to 16000 would be more of a wash out and buy-able low or a double bottom should be next. No change in forecast from last week.


ETHUSD –   A higher low is possible here into 1250-1220. A lower low is a gift and a strong buy. This is my preferred Crypto coin, should be seeing institutional support later this year.


LTCUSD –  Flag also printing here so this can retest the low before turning. BTC may see one more low before a turn with the other Cryptos. If so then LTC will follow.


A lower low here is a strong buy for a longer term hold in BTC and if seen, we may see the same with LTC.  ETH may see a higher low while the others see a lower low. The lean is long here and the market is turning. Mind your risk until the turn is confirmed. This is a significant long setup across Cryptos.   Volatility will remain high 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

07th Aug 2022

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