Even Litecoin looks ready to make a break out into the previous support area of $110, which we have yet to see a re-testy for resistance.
Things to note:
Bear extension targets hit - 1.618% fib level - a re-test of the 0 fib level very likely.
Descending wedge pattern nearly breaking out on the daily.
Daily RSI - oversold favoring bulls
I see a solid 3-1 risk reward for the long side (Target $110) (stop $73). Risking about 8% downside for 30% upside... only in crypto :p
Best of luck.
Things to note:
Bear extension targets hit - 1.618% fib level - a re-test of the 0 fib level very likely.
Descending wedge pattern nearly breaking out on the daily.
Daily RSI - oversold favoring bulls
I see a solid 3-1 risk reward for the long side (Target $110) (stop $73). Risking about 8% downside for 30% upside... only in crypto :p
Best of luck.
Kommentar:
Might have one more dip, as a result of the channel resistance. long trade still active, more buy orders set at $79
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Kommentar:
The weekly 100 MA is in play as well - this should get noticed.
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Paying close attention to the respect of this descending channel
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beginning stages of defending channel break :)
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Comes down to this little wedge
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Finally broke the grips of this descending channel. now we just need to break past the 1.272 extension and we are all clear for $110 re-test
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the last trend-line resistance - $100 should be right around the corner
the last trend-line resistance - $100 should be right around the corner
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Here is BTC added on top of LTC chart - Undervalued or what? gotta love LTC as a lagger play --> adding to my position.
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Still long-term bullish - expecting near-term rally into $70, then follow up sell- off into $55 as Bitcoin sells into 5k, which I believe, WILL be the bottom. Hold ON!
Still long-term bullish - expecting near-term rally into $70, then follow up sell- off into $55 as Bitcoin sells into 5k, which I believe, WILL be the bottom. Hold ON!
