Crypto-Currencies: Bitcoin, Litecoin and Ethereum for August 20th

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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 — The consolidation has finally done something, broken down which should find support at the resistance trend line that broke up. Lean is still long into 45000. Previous low needs to hold.

 

ETHUSD –   Broke down as per BTC above, again, consolidation finally broke, looking for support at the previous low and higher highs. Hold into 3500.

 

LTCUSD – This appears to be more of a retest and lean is still long into $200 into year end.

Cryptos have consolidated for a long period and have finally broken down, the broken resistance trend line is support and the previous low needs to hold.   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.

20th Aug 2023

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