Crypto-Currencies: Bitcoin, Litecoin and Ethereum for January 26th

Crypto-Currencies: Bitcoin, Litecoin and Ethereum for January 26th

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 — Retest as discussed and looking for a higher low above the monthly pivot and a reversal with a higher high by week’s end. More volatility expected this week and the FOMC meeting announcement is Wednesday. Looking for the next swing high by 4-15,

 

ETHUSD — Retest as discussed last week and looking for support above the monthly pivot and higher prices into week’s end. The 180-190 area will be formidable resistance, break and convert that area opens the upside.

 

LTCUSD – As discussed last week an IHS is setting up here and watch for the monthly pivot to be support. Looking for a higher high by Friday as a bullish market in the third wave tend to gap up and go on the reversal. This week the additional volatility should show up on Crypto’s too.

 

Retesting across the board and a wave three about to begin? This week with the flu in China and elsewhere in the world and FOMC we should see an increase in volatility. Key is the support test above monthly pivot which is 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.

Leave a Reply