Friday | 28th December 2018
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.
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.
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BTC/USD
The corrective pullback in BTC from the Christmas Eve high of $4219.16 is still unfolding. As we have it, yesterday’s decline took out recent low at $3662.09.
Still, despite this rather steep decline, this move is seen as a correction and BTC is expected to eventually resumes its long-term climb from the month’s low of $3118.71.
Regardless, when the current correction ends, ideally within $3396.26 - $3416.71, we could a robust recovery beyond $4219.16 and onward towards the 4-hourly time frame projected target at $5262.03.
TRADE IDEAS
ETH/USD
Likewise, ETH continues to correct lower in overnight trading having successfully took out recent low of $121.53.
On the flipside, this pullback has enabled the filling of the remaining pending buy orders at $116.14 and $112.17 respectively.
On the downside, it remains probable that this decline may extend lower into the $105.01 - $107.60 area before ETH stabilizes. Regardless, once this correction ends, an eventual resumption of the rally from $80.57 is anticipated for a move beyond $158.33 - towards the initial 4-hourly time frame target at $191.50.
TRADE IDEAS
LTC/USD
LTC too fall in tandem with the other crypto assets. Once again, the hoped-for rally attempt towards $30.79 - $31.69 did not materialized. LTC simply fell without any meaningful reboiund yesterday; taking out the recent low at $28.73.
As a result, all remaining pending buy orders were filled. Looking ahead, it is probable this decline may extends lower perhaps into the $24.87 - $25.67 area before valuation turns around. If so, an eventual resumption of the reversal from $22.08 is anticipated with the next move rallying beyond 36.28 and onward towards $50.00.
