Crypto-Currencies: Bitcoin, Litecoin and Ethereum for April 16th

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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 — Still waiting on a pull back and not much progress. Look for monthly pivot and an RSI of 30-40. Cryptos are buy-able and recommendation is to accumulate on long setups.

 

ETHUSD –    Time to start accumulating as discussed, look for a buy-able pull backs, monthly pivot a target for support. RSI of 30-40 are good areas to consider.

 

LTCUSD –  Look for a conversion of the high to confirm the turn is in. As the market leaders go higher LTC will follow.

 

Start accumulating on buy-able pullbacks, will point out setups when they come here.  Looking for a pull back in indexes in the next few weeks and Crypto should follow.  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.

16th Apr 2023

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