Wednesday | 2nd 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.
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
BTC remains firm after last night’s surge. Further rise above $3938.18 would confirm that the corrective decline from there has ended at $3619.56 on the last trading day of 2018.
If so, we should see the resumption of the rise from last month’s low of $3113.80 targeting $4183.71 basis the hourly time frame.
TRADE IDEAS
ETH/USD
As noted previously, ETH is comparatively firmer relative to both BTC and LTC. With the break above $146.26, it is likely the rise from last December 14 low of $80.57 has resumed.
This means this rally is probably sustainable and may next target $181.01 (hourly time frame) before challenging $239.30 over the medium-term (see 4-hourly time frame chart).
TRADE IDEAS
LTC/USD
Like BTC, LTC has yet to take out last week’s high. Going forward, a successful clearance of $33.29 and $36.09 will open up a challenge of $38.90.
But over the medium-term, the target is for a move towards $50.28 (4-hourly time frame).
