Wednesday | 31th 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/btcethltc301018

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

There is no change in the near-term outlook for BTC. After Monday’s slam dunk, the crypto market has gone back to marking time although there is no doubt the long-term decline is resuming. 

A sustained break below $6331.16 and $6088.14 would confirm this near-term bearish assessment. In the medium-term, an eventual break below the year’s low at $5738.77 is expected and an extended 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

ETH fell hard on Monday and over the last 24 hours or so, it has been consolidating within a roughly $5 trading range. 

A decisive break below $188.46 and $166.88 would confirm the immediate bearish assessment. 

Preliminary, a fall to somewhere between $124.00 - $125.00 is a distinct possibility with a worst-case scenario been a fall towards $34.50. 

Whether or not ETH falls as deep, this anticipated fall is seen as a terminal one and a lasting bottom in ETH is expected. 

Increasingly, the odds are shifting for cryptocurrencies and buying is becoming attractive.               

TRADE IDEAS

LTC/USD

In the 4-hourly time frame, it is clear the long-term downtrend is resuming. However, in the hourly time frame, a counre-trend rise has developed; reflecting the consolidation seen over the last 24 hours hours. 

It is highly likely that this rise will be negated shortly. As it is, Monday’s low at $47.06 is just a touch off the year’s low of $46.91 and this level is likely to be exceeded in due course. 

Over the medium-term, a move to challenge the September 15, 2017 low of $32.48 is not impossible. 

That said, there is every possibility this level may arrest the year-long slide. 

At any rate, when LTC trades below $ 40.00, it will appeal to buyers once again.  

Like BTC and ETH, LTC is likely in a final decline and should bottom out somewhere between $32.48 - $ 35.50.                        

TRADE IDEAS