Thursday | 3rd 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/btcethltc020119

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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Twitter -  http://bit.ly/danielang_twitter

Steemit - http://bit.ly/danielang_steemit 

BTC/USD

There is no change in outlook. BTC remains relatively well bid although its gains over the last 24 hours were not pronounced as it has yet to break above last week’s high of $3928.18. 

As noted in yesterday’s update, 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. 

On a cautionary note, if BTC fails to extend meaningfully above $4000, then there is a possibility we have to consider that the entire rise from $3575.52 as a corrective rally.                                   

 TRADE IDEAS

ETH/USD

In contrast, ETH continues to post gains beyond last week’s high and as of this morning, it has edged higher with an intraday high of $155.84 so far. 

This level is near the Christmas Eve high of $158.33. As noted all along, ETH has exhibited a comparatively firmer profile relative to both BTC and LTC. 

With the successful break above $158.33, ETH is likely to extend its lead towards $181.01 (hourly time frame) before challenging $239.30 over the medium-term (see 4-hourly time frame chart). 

But first, it is crucial that ETH blasts through $160.75. If it falters there and falls sharply, then the entire rise from 113.48 will be downgraded to one of a corrective rally.                                 

TRADE IDEAS

LTC/USD

Unlike BTC, LTC has managed pipped above last week’s high at $33.33 and pulled back. 

While it is too early to place any significance to this development (which carries with it bearish implication), the alternate view must be considered. 

This is especially so if the Christmas Eve high of $36.28 is not bested. Clearance above this level 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).                  

TRADE IDEAS