Crypto-Currencies: Bitcoin, Litecoin and Ethereum for January 17th

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 — BTC has pulled back as expected last week and came very close to target 29250. The retrace may be over. Look for a retest of the low this week and more upside. We are concluding the first major wave up on BTC, likely 45000 by March 27th.  Major degree wave Y is still to come, more upside to come in BTC.

 

ETHUSD – Pull back as discussed and possible conclusion of wave X – low retest this week and look for support and next step up into March 18th and 1500. A three back is a long and higher highs expected.

 

 

LTCUSD – Wave Y has completed and wave X retrace over threw target and is likely complete. Look for a retest of the low this week and higher highs into the 3-18 window and 220. Expecting More upside on LTC and Cryptos

 

Crypto’s have pulled back and a low retest is needed across BTC, LTC and ETH. These pair will continue their bullish run as the USD continue to fall throughout the year. Likely this week we see a three back and the next step higher.  More upside is expected into the March high window.  I remain bullish Crypto’s.  Trade Smart and Trade Safe.

Written by:

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.

17th Jan 2021

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