Crypto-Currencies: Bitcoin, Litecoin and Ethereum for May 12th

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 — Retest may be over here, as the rally may have started. Need to see a conversion of middle band. Next major step higher into 80,000 is on the way and we can overthrow to 84,000.


ETHUSD –    Pull back may be finished, looking for higher into 4800 and expecting middle band to convert to confirm the next upside move.  ETH will lag behind BTC and other Cryptos as it is a slower and a more expensive block chain.


LTCUSD – Lean is still long into $125. This will continue to lag the general Crypto market. Retest into $77 then higher expected.


No change in forecast, middle bands need to convert and once it does the last legg of thxs rally starts. 4th wave may be done, lean is still long.  Looking for a rally this week as the flags appear to be complete.   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

12th May 2024

Leave a Comment

Your email address will not be published.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