Crypto-Currencies: Bitcoin, Litecoin and Ethereum for October 22

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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 — Rally has started from the broken resistance trend line and still looking for the next advance. Have made an RSI of 30 and lean is still long into 45000. Previous low needs to hold.

 

ETHUSD –   Rally has not yet started and we have a divergence with BTC from the broken resistance trend line.  Need to see follow thru. DX is turning also. Hold long into 3500.

 

LTCUSD – Rally may have started from the trend line, lean is still long into $150 into year end. No confirm here yet on the reversal.

 

Rally in BTC has started and I am expecting the other Cryptos to follow. The previous low needs to hold, be patient with this, follow thru is needed this week on ETH. Lean is still long here into year end.  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.

22nd Oct 2023

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