Crypto-Currencies: Bitcoin, Litecoin and Ethereum for January 8th

This is a weekly post covering Cryptocurrencies, specifically  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 — Still looking for a major turn in Cryptos, and waiting for the long setup. Consolidations take the time they take, so being very patient here.   A major turn in Crypto is brewing and looking for a reversal across the board and a long term uptrend. A lower low is still needed in 2023.


ETHUSD –   The consolidation pattern is signalling continuation lower. Still expecting a lower lows here and as the S&P drops we may see some pressure this week.


LTCUSD –  This pattern is a flat, so expecting a lower low and the wave C appears to have completed against the trend line. Lean lower here and a lower low will create a long setup.


We should see more mainstream adoption of Blockchain in 2023. Cryptos are very close to a long term reversal here as this consolidation pattern continues sideways.    Lower lows are still needed for the long setup. Watch BTC for clues as it should lead the way higher.   Still looking for a long term trend up so mind your risk until the turn is confirmed.  Trade Smart and Trade Safe in 2023.

Written by:

Stan Nabozny

Stan is a 20 year retail trading veteran, CTA (Commodity Trading Advisor) 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

08th Jan 2023

Leave a Comment

Your email address will not be published. Required fields are marked *