Crypto-Currencies: Bitcoin, Litecoin and Ethereum for January 12th

Crypto-Currencies: Bitcoin, Litecoin and Ethereum for January 12th

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 — A candidate low is in place and BTC has broken the declining resistance trend line which is bullish. Upside lean into April and a retest of the high, monthly pivot is now support. Looking for higher into October 2020.

 

ETHUSD — The compression pattern that formed has expanded to the upside as expected. Look for support at monthly pivot and then higher prices into April.  I am expecting the previous high to break later this year in October.

 

LTCUSD – The compression pattern has broken up. 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.

 

So far so good on the rally, follow through from Monthly Pivot is key to these markets continuing higher. 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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