Crypto-Currencies: Bitcoin, Litecoin and Ethereum for January 28th

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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. All the Best to Everyone for the Holiday Season!!

BTCUSD — We have made target at 45,000, still expecting 52,000-52,500 next. The retest looks like it may be finished, this week look for a turn.

 

ETHUSD –   No Change in Forecast. Rally is confirmed, pull back may be finished.  Hold long into 3500. ETH will fall behind BTC and other Cryptos as it is a slower and a more expensive block chain.

 

LTCUSD – Rally has started from the trend line, lean is still long into $150. This will continue to lag the general Crypto market.

Cryptos are following BTC as mentioned and more upside is expected. The small pull back is just a pause in the action and a turn may be seen this week. Looking for 52500 on BTC next.   Trade Smart and Trade Safe.

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 www.huffingtonpost.com.

28th Jan 2024

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