Friday | 21th 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.

Previous commentary refer here: http://bit.ly/btcethltc201218

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

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Honey Miner : https://honeyminer.com/referred/59hvc

CryptoTab : https://get.cryptobrowser.site/2402149

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BTC/USD

BTC remains very well bid and attempts to buy on pullback has not been successful. Still, we must allow the 5-wave up sequence from $3118.71 to play itself out before we can see a reasonable pullback. The fact that there has been no significant pullback suggests the up-sequence is incomplete.

Tentatively, a temporary peak may be in place at last night high of $4156.14. If so, we should see a more robust albeit a complex correction unfolding soon. This means there could be a period of consolidation going into the end of the year.

Regardless, the idea is still to buy on pullbacks.

TRADE IDEAS

ETH/USD

On balance, ETH is more robust compared to BTC. This is because there was a marginal new high in the last hour whereas there is none in BTC.

That said, this morning high at $118.35 may be a temporary top. Following this, we could see a period of consolidation as profit-takings set in.

If so, this allows the positioning of long positions as we attempt to buy the pullback.

TRADE IDEAS

LTC/USD

Like BTC, there was no new high this morning. Nonetheless, LTC remains very much in demand.

Tentatively, we could count a completed 5-wave rally from last Saturday low of $22.09 at $32.91. But this only accounts for the first initial rise which is probably part of a larger degree rally.

If so, we could see a deeper corrective pullback, ideally to test $27.50 before it resumes its long-term climb. Similar to BTC and ETH, this anticipated correction could take the form of a complex pattern.

If so, such consolidation may last a few days.