Crypto-Currencies: Bitcoin, Litecoin and Ethereum for July 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 — I issued a buy signal five weeks ago as we had a dip into our retrace target of 25200. Consolidation above the broken resistance trendline means we see a push higher then retest back into this area.  Lean is long into 45000.

 

ETHUSD –   No Change In Forecast. Buy signal here, made retrace  target at 1720 and looking long from here. Hold into 3500.

 

LTCUSD – No Change In Forecast. Issued a buy signal here, as other cryptos are in the zone. This is now confirmed long into 200. Likely see a higher high before a meaningful retest.

 

Cryptos are on a buy signal, the broken resistance trend line is the next support test but the consolidation here are signalling higher directly first.   Lean is long here into September.  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 Jul 2023

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