Crypto-Currencies: Bitcoin, Litecoin and Ethereum for February 5th

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 — Price action may be indicating a longer term turn in Cryptos as discussed. Looking for a shallow retest and higher highs, this will signal a turn. 5 waves up here on BTC and ETH, look for a retrace, neg D on RSI.  The ETH chart is more significant than BTC.


ETHUSD –   Watching for a longer term turn here and if we see 1340 support or 1250 support this signals a turn and new highs coming. Waiting for a confirmation, long term signal is forming.


LTCUSD –  Megaphone pattern may break down but if the lower trend line is support and we break to a higher high then long term turn is in.


We have a possible reversal here in Cryptos, but not enough price action to confirm. Currently we are 5 up and looking for a pull back with neg D now confirmed on RSI for ETH and BTC. Watch ETH as it is the best formed pattern. Cryptos are very close to a long term reversal.  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

05th Feb 2023

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