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Cryptocurrencies have been the talk of the town these days thanks to the launch of CBOE bitcoin futures that drew more investors to the party. Check out these trade setups I’m watching!

BTC/USD: 4-hour

BTC/USD 1-hour Chart
BTC/USD 4-hour Chart

Bitcoin has been setting one record high after another like it’s nobody’s business, but price has actually made quite the pullback when the CBOE had a brief outage.

As it turned out, bitcoin futures were too hot to handle as it led to a massive surge in trading activity and volumes. Price recovered after the exchange resumed trading, allowing it to hit a high around the $17,500 mark – up nearly 20 times its value for the year.

However, the rally appears to have run out of steam and bitcoin might need another correction before heading further north. The 50% Fib is closest to the rising trend line support, and stochastic suggests that the pullback is still in play.

Also, note that CME and Nasdaq are gearing up to launch their own bitcoin futures soon, which could mean another influx of moolah in the cryptocurrency.

ETH/USD: 4-hour

ETH/USD 1-hour Chart
ETH/USD 1-hour Chart

Ethereum bulls have jumped back to action, following last week’s correction to a nearby area of interest. The climb has been a steep one for this baby, but the 100 SMA is above the longer-term 200 SMA to confirm that more gains are likely.

Stochastic has already pulled up without even hitting oversold levels, which means that buyers are eager to hop in. Price is currently testing the 61.8% extension level, and a continuation of bullish momentum could take it up to the full extension at $780.29.

LTC/USD: 4-hour

LTC/USD 1-hour Chart
LTC/USD 1-hour Chart

Litecoin is back in consolidation mode after previously bursting through a symmetrical triangle pattern and staging a stellar rally.

This could be interpreted as a bullish flag, which is a classic continuation signal. The height of the resulting rally, should price make another upside break, could be the same height as the mast spanning from $150 to around $275.

The 100 SMA is safely above the longer-term 200 SMA and is increasing its lead, which means that bulls are on top of their game. Stochastic is also turning higher to reflect a pickup in buying pressure.

IOTA/USD: 1-hour

IOTA/USD: 1-hour Chart
IOTA/USD: 1-hour Chart

If you’re not a fan of cryptocurrencies and are feeling a bit contrarian, this IOTA/USD chart might be your cup o’ tea.

Price formed lower highs and higher lows, creating a symmetrical triangle after its climb in the previous month. IOTA has broken below support to signal that bearish pressure is mounting, but a quick retest of the broken support might happen before it continues on the southbound route.

This digital asset enjoyed strong gains earlier when it was reported that giants of the tech industry were investing in it, but it soon paused when Microsoft clarified that it isn’t exactly partnering with IOTA. The 100 SMA looks prime for a downward crossover, which could draw more sellers in.

A bit of fair warning, though. As Fed head honcho Yellen cautioned, bitcoin is a highly speculative asset and is not legal tender, which means that there is a considerable amount of risk in trading cryptocurrencies. Be careful out there!