Tuesday | 15th January 2019
Everyday is a Potential Payday if you Master the Art of Trading - Daniel Ang
Good Day all my beloved students & steemians. Inside this daily commentary I will share the short-term technical outlook and trade ideas for Bitcoin, Ethereum and Litecoin.
Previous commentary refer here: http://bit.ly/btcethltc140119
My core strategies refer here: http://bit.ly/taicorestrategies
WARNING
Do not attempt to use any of the trade ideas contained within unless you have attended my classes and understood the risk and money management behind these ideas.
Full Disclaimer refer here: http://bit.ly/tai-disclaimer
Want to own Bitcoin rather than ETF trading, check the two link below:
Honey Miner : https://honeyminer.com/referred/59hvc
CryptoTab : https://get.cryptobrowser.site/2402149
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BTC/USD
Yesterday’s sharp surge could possibly be laying the foundation for a sustainned rally going forward. This is because the low at $ 3472.02 could marked the completion of the 3-wave decline from $4219.16 (see 4-hourly chart).
All along it has been suggested that BTC has hit a significant bottom at $3113.80 a month ago. It is also likely we are witnessing the beginning of a major reversal in crypto asset values across the board.
As mentioned yesterday, the immediate barrier could be the supply zone at $3762.72 - $3872.13 (see hourly chart).
Clearance above this area should pave the way for an assault on the projected target $5260.50 or more likely towards $5495.76 - $5636.63 (see 4-hour chart).
TRADE IDEAS
ETH/USD
Following the sharp fall to $112.94 last Sunday, ETH had an even more powerful rally last night; trading to a high at $130.65.
Like BTC, it is possible to call a bottom at $112.94 (being the completion of the 3-wave corrective decline from $150.33).
If so, it is possible ETH is in the cusp of a sustainable rally with the immediate barrier located at 130.40 - $132.51 (see hourly chart).
The next significant barrier is probably the supply zone at $148.49 - $150.62 in the hourly time frame; which coincides with a supply zone at $148.51 - $151.98 in the 4-hourly time frame.
Odds are even this confluence may not be strong enough to cap this rally, which may extend all the way towards $191.50.
TRADE IDEAS
LTC/USD
Like BTC and ETH, LTC saw a complete reversal of the fall from just under the $30 handle some 48-hours ago.
Last night’s surge effectively erased all the deficits from last Sunday’s fall. As suspected, the supply zone at $32.21- $32.63 is where this initial rally could be capped and it did (see hourly chart). Last night’s high was at $ 32.65 before profit-taking set in.
Going forward, it is likely this new found bullishness may take LTC and the other coins higher in a sustained rally.
As noted yesterday, over the medium-term, there is every potential that LTC could extend its rally towards $48.48 - $49.58.
TRADE IDEAS
