Wednesday | 9th 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/btcethltc080919

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

BTC remains in consolidation mode after spiking to a 2-weeks high at $4093.71 around midnight yesterday. 

Since then, it has pulled back on profit-taking but based on wave count; more upside remains ahead. At this rate, BTC remains on course to challenge the Christmas Eve high of $4219.16 next. 

Going forward, another round of profit-taking may emerge from within the supply zone of $4184.78 - $4247.38 (see hourly time frame). 

Over the medium-term, as expressed by the 4-hourly chart, the entire rally from $3113.80 may extend towards $5262.00 and perhaps into $5485.50 - $5636.63 before a more robust correction sets in.                                      

 TRADE IDEAS

ETH/USD

Yesterday’s pullback may have ended at $145.78, or it may dip marginally into the minor demand zone at $143.86 - $144.75 before resuming its climb. 

As noted in yesterday’s update, an aggressive rally ahead is anticipated. Also noted was the fact that price action is ETH has been rather sedate owing the ongoing hard fork. 

But going forward, ETH is expected to play catch-up eventually. In this regard, any extended rise above $159.65 is likely to result in a move towards $181.01. If this rise can be sustained beyond this level, an eventual rally to $239.30 is anticipated (see 4-hourly chart).                                    

TRADE IDEAS

LTC/USD

Last night’s spike to fresh 6-weeks high at $40.82 did not surprise as it has been maintained all this while that this rally from $22.08 is by no means over. 

In the near-term, LTC is likely to correct lower with the likelihood of another test of recent lows near $36.96. 

The immediate demand zone at $36.82 - $37.61 should offer good support. From there, the rally should resume. The next area of interest is $41.54 and $50.28.                  

TRADE IDEAS