Crypto-Currencies: Bitcoin, Litecoin and Ethereum for January 31st

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 is expected to rally and last Friday we say a break out type rally that has come back to origin.  Still expecting the low to hold and looking for the next legg higher.  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 – Higher low here on ETH and already a new high. BTC should follow.  Continuation higher expected with a floor at 1100, expecting 1600 by March high window.

 

LTCUSD – Wave Y has completed and wave X retrace completed and a higher low is likely in. Need to convert monthly pivot at 141.72 to open higher highs and the March window and 220. Expecting more upside on LTC and Cryptos

 

Crypto’s retracement pattern appears to be complete and ETH is leading to the upside, BTC and LTC should follow.  More upside is expected into the March high window.  These pairs will continue their bullish run as the USD continue to fall throughout the year.  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.

31st Jan 2021

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