Monday | 24th 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/btcethltc211218

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

BTC extended its gains this morning after coming under profit-taking over the weekend. But the one that made a splash was not BTC. 

It’s ETH. Anyway, BTC too benefited from the bullish sentiment prevailing in the market after hitting a year low at $3118.71 a fortnight ago. 

This morning surge to $4191.62 may not be sustainable and may come under aggressive profit-taking in the days ahead. 

This means, at the current level, BTC is not attractive as a buy. Allow the market to pullback before re-positioning longs at lower levels. 

From the perspective of the hourly time frame, as a decline may take BTC back to test the $3639 level. 

If so, the game plan is still to scale in buying. See trade ideas.                 

 TRADE IDEAS

ETH/USD

As mentioned, ETH recorded one of the most solid gains among the top 20 cryptocurrencies in the last 24 hours; having surged to a month’s high at $148.24 just an hour ago. 

Technically, ETH is now vulnerable to profit-taking having rose ahead of its peers. In fact, at the current level, the any further upside is probably limited and further profit-taking.

If a correction ensues as expected, such a pullback may take ETH back to test the $105.00 level. 

If so, this is an excellent time to re-position longs by way of scaling-in. See trade ideas.                   

TRADE IDEAS

LTC/USD

Rising tide raises all ships. LTC too surged this morning to a one-month high at $35.13. 

Similar to BTC and ETH, LTC at this level is susceptible to profit-taking. Should one develops, such pullback may take LTC back to test the $29.40 or even the $27.25 level in the days ahead. 

Given this morning string performance, there is a re-labeling of the wave count, but nothing material has changed. 

In this recount, this morning high at $35.12 could well be the peak for this round; to be followed by a corrective pullback. If so, this is another chance to scale-in buying if not already positioned over the weekend.              

TRADE IDEAS