Thursday | 15th November 2018

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/btcethltc141118

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  

 You can also follow my FITS: 

Facebook - http://bit.ly/danielang_fbpg

Instagram - http://bit.ly/danielang_ig

Twitter -  http://bit.ly/danielang_twitter

Steemit - http://bit.ly/danielang_steemit 

BTC/USD

The long-term downtrend in cryptocurrencies has finally resumed after more than a month of practically going nowhere.

All along it was suggested that the dominant trend across all time frames are pointing downwards and an eventual collapse is in the cards. 

This is because most of the crypto assets are displaying triangle patterns and once completed usually result in a waterfall like move. But be very careful about chasing this move ever lower as this fall is seen as the final leg of a multi-cycle decline.   

TRADE IDEAS

ETH/USD

The triangle pattern seen in ETH is finally complete and what we are witnessing overnight is typical of a post-triangle thrust. In this case, it is a thrust to the downside. 

That said, the sharpest part of this move is probably over, and this may be followed by a consolidation phase. But upside is rather limited, and another fall is anticipated to complete this fall.   

TRADE IDEAS

LTC/USD

LTC overnight fall is also anticipated. For some time now, it has been suggested that the path of least resistance is to the downside. While there is now a counter-trend rise in the hourly time frame, this is unlikely to sustain.

A break of $40.06 would once again see the resumption of the fall. With the September 15, 2017 low of $32.48 looming ahead, it is a logical level to gun for. But be warned, if and when LTC trades below $40.00, it will become attractive again to buyers, and it is likely LTC may bottom out somewhere between $32.48 - $ 35.50.   

TRADE IDEAS