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

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

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 — No change since last week as BTC has gone sideways, likely we see lower bollie as support and looking for a three up into 4613 next.   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 — No change since last week as price is still retesting 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 – No change since last week as price has moved sideways, we are 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.

No change since last week, my lean is that the uptrend will 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.

Comments are closed.