Crypto-Currencies: Bitcoin, Litecoin and Ethereum for May 19th

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 — Middle band converted and looking for the 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.

LTCUSD – Lean is still long into $125. This will continue to lag the general Crypto market.

No change in forecast, middle band converted in BTC. ETH needs to confirm too, it wil lag this rally.   Looking for a rally this week as the flags appear to have broken up.   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.

19th May 2024

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