23th October 2018 Daily Trading Commentary | BITCOIN | ETHEREUM | LITECOIN

in bitcoin •  11 months ago  (edited)

Tuesday | 23th October 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/btcethltc191018

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

There is still no change in the near-term outlook for BTC since nothing much really happen over the last 24 hours. 

The current thinking is there is still a chance BTC may trade back into the said supply zone before unravelling. 

Based on the near-term wave count, odds are the likelihood of a hard fall is imminent but only a break below $6331.16 and $6088.14 would confirm this near-term bearish assessment. 

As mentioned previously, an eventual break below the year’s low at $5738.77 is anticipated. 

And a fall below $4000 in BTC is not inconceivable. If so, this is most likely the last leg of a year-long fall from last December 17 high, and an critical bottom is in sight.    

TRADE IDEAS

ETH/USD

There is still no change in the near-term outlook for BTC since nothing much really happen over the last 24 hours. 

The current thinking is there is still a chance BTC may trade back into the said supply zone before unravelling. 

Based on the near-term wave count, odds are the likelihood of a hard fall is imminent but only a break below $6331.16 and $6088.14 would confirm this near-term bearish assessment. 

As mentioned previously, an eventual break below the year’s low at $5738.77 is anticipated. And a fall below $4000 in BTC is not inconceivable. 

If so, this is most likely the last leg of a year-long fall from last December 17 high, and an critical bottom is in sight.   

TRADE IDEAS

LTC/USD

Structurally, LTC too appear poised to lose ground but allowance is for another rise above last Monday’s high of $56.40. 

Unless of course, we have an immediate break below $50.49 and $$49.55. This would eliminate the likelihood of another spike higher. 

Going forward, the anticipated fall has the potential to take out the year low of $46.91. Over the medium-term, a move to challenge the September 15, 2017 low of $32.48 is not impossible. 

But honestly, this level should hold. In fact, sub-$40 in LTC looks very attractive to buy. Like BTC and ETH, LTC is likely in a final decline and should bottom out somewhere between $32.48 - $ 35.50.      

TRADE IDEAS

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