Crypto-Currencies: Bitcoin, Litecoin and Ethereum for January 13th

Crypto-Currencies: Bitcoin, Litecoin and Ethereum for January 13th

Crypto-currencies are now mainstream trading instruments. I am providing charts in this blog on a weekly basis. I plan to cover just three cryptos: Bitcoin, Litecoin, and Ethereum. The point of this weekly post is to show the crowd psychology behind the price movement to support high-quality trades.

BTCUSD — Testing the lower bollinger band as of Friday and looking for the rally into the next target at 4613.  The first legg up is expected to be choppy and two sided. The next cycle date is in April, I am looking for higher prices into the $8000s. We invalidate the move higher on a break and conversion of 3276.

ETHUSD — Retesting into the monthly pivot and may see the lower bollie as well. My lean is still long into the next target higher at 188. We should see the next rally unfold into the next cycle window in the April time frame. My target there is at least 450. The move higher invalidates on a break and conversion of  101.

LTCUSD – Retesting the monthly pivot at 29.58.  I am still expecting the next target in the  $42 area. Likely we see the rally into April as mentioned. The move invalidates on a break and conversion of  25.87.

 

Expecting the uptrend to continue, watching my invalidation levels in case of a conversion. Cycle dates are pointing higher and a rally should ensue into the first cycle date of April and then further into July. Trade Safe.

About the Author

Stan Nabozny
Stan is a 20 year retail trading veteran 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.

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