Crypto-Currencies: Bitcoin, Litecoin and Ethereum for January 9th

Happy Holidays to everyone. All the best for the New Year!!  Covering Cryptos this week,  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 — Lower low this week and we have almost made the month;ly S1 and have hit the 3rd SD Bollinger. This is usual area for a turn for Cryptos and looking for a conversion of 45000 to confirm the turn. We can still retest the low once this is seen.  Above 52500 we open target at 78554.

 

ETHUSD –   The larger three down played out to 3197. This is a seven swing move and a turn is likely in this area. Turn confirms above 3520.   I still expect ETH to lead to the upside. Target is 5432.

 

LTCUSD – Marginal lower low here and through the 3rd SD Bollinger which is an accumulation level. Lookng for a turn this week and a conversion of 165 to confirm.  Higher highs are expected in 2022.

 

Wishing all readers a healthy and prosperous 2022. Cryptos are probing a low here and I am still expecting these instruments to be bullish in 2022.   USD has pushed lower and continuation lower on DX will support a rally here in Cryptos.  I expect USD to continue to devalue in 2022 and  expecting Cryptos to continue to be bullish. 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.

09th Jan 2022

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