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

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

I plan to cover just three cryptos every week in this post: 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 — So far so good on the break up and we have a 5 wave structure which needs a retest before seeing higher. Monthly pivot needs to hold as support and looking for continuation higher into October.

 

ETHUSD — Breaking up here also and needs a retest 50% back of the previous advance and then higher expected. Monthly pivot must hold as support. Expect higher prices into April. I am expecting the previous high to break later this year in October.

 

LTCUSD – The compression pattern has broken up. Watch for a larger IHS on the retest.  I am looking for support at the monthly pivot and then follow through to the upside. The middle band from here on out needs to hold as support into April.

 

Breaking up across the board and nearing the end of the first impulse. Key is the support test and monthly pivot continues to be the key to the advance. My lean is higher into October. Trade Smart and 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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