Would be nice to make former resistance support. Keep an eye out for weakness here, *if the price slows down at this level ($3650 at the time of writing) and then closes below $3600, there is good prospects for a nice down move before more up.
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As I said, keep an eye out for weakness. Price continued on up, but sellers stepped in the 39xx's. No telling how high this can go, but it will be interesting to see if we get a reversal candle on the daily. And then new lows. But until you see that you do not have confirmation.
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Bitcoin looking unstoppable : ) Daily chart is overextended so could see a pull back but the weekly looks bullish as can be. So when that pull back does come on the daily it will probably more shallow, some sort of a bull flag or pennant before going higher, $3000 now very unlikely tbh. Spartans hodl
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Daily chart showing weakness, could be going as low as 34xx (the .38 fib)
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Also, the segwit2x fork and deceptive behavior is not good news.
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Went down as expected but not as low as I thought and its starting to look like thats all the down we will get with segwit activation on the way. Seems the next leg up is about to begin:
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sorry wrong chart link lol (did not mean to post xmr chart), here is the bitcoin chart:
Yes . Loved the charts.....but does seem any pull back for now will be very contained ...say 3400 ish.......or we just keep going . Also agree with your ltc comment below...its a waiting game......
fortunekr
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How do think this factors into LTC's potential? Bitcoin looks just too strong here for any monster litecoin rally. Don't get me wrong, LTC will go up but I don't think the rally will be as hard as thought it would be.
ltc-joe
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@fortunekr, Agreed that bitcoin is looking very strong and the ltc/btc ratio has been weak and drifted lower than I thought we would go. Maybe because silly bcash hogged the attention for a bit. But anyway, I still do think LTC will have an epic rally, but it may be delayed, so ltc/btc can fall more or reverse soon, hard to predict. But I do think once ltc actually gets going nothing will be able to stop it. Worst case we get a few weeks maybe a month or two of consolidation before that happens.