Crypto-Currencies: Bitcoin, Litecoin and Ethereum for January 24th

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 and has exceeded the retracement target and the 100% fib. At this point, retrace may be over. Look for a rally this week. 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 – Different than BTC and a higher low which was expected. Look for a rally here this week as we should start the trek higher into March and 1500. Support at 1000 expected.

 

LTCUSD – Wave Y has completed and wave X retrace completed and a higher low is likely in. So far so good, now let’s see weekly pivot convert at 142 to open higher highs and the March window and 220. Expecting More upside on LTC and Cryptos

 

Crypto’s have pulled back and a low retest has occurred across BTC, LTC and ETH. BTC exceeded target and made a lower low which is OK, the volatility here is much higher than LTC and ETH. These pairs will continue their bullish run as the USD continue to fall throughout the year. 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.

24th Jan 2021

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