Crypto-Currencies: Bitcoin, Litecoin and Ethereum for November 6th

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 pattern is topping out here and a retest of the low is likely, can see as low as 16,000.   This is a major turn in Crypto and looking for a reversal across the board and a long term uptrend.  Should see this move start this week, wait for a confirmation.


ETHUSD –   Made trend line resistance as expected and the retracement pattern is topping out here. Once the trend line proves resistance then lower lows to at least 1100 is likely.


LTCUSD –  Overshot resistance and overbought here. Should see the low retest this week and lower lows expected for a long term setup.


As mentioned last week the retracement pattern was incomplete. At this point It appears done and looking for a confirmation of the last move lower.  Watch BTC for a reversal as this should lead the way lower. Still looking for a long term setup so mind your risk until the turn is confirmed. There is a significant long setup coming across Cryptos, setup is coming.  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

06th Nov 2022

Leave a Comment

Your email address will not be published. Required fields are marked *