We broke through the yellow trendline! This yellow trendline was my biggest concern! This morning we broke out of it... If we close our daily candle above this yellow trendline then it will be quite bullish and provide enough TA reasons to consider it a true breakout. Yes, we have a inverse head and shoulder pattern and if BTC breaks through that then it will be a MAJOR victory in putting this bear cycle behind us. Of course, passing 12k is the true litmus test for a bull market cycle. I am quite bullish for this POTENTIAL Breakup, and I would like for you to have a look at LTC. My theory is that BTC was pulled out of the gutters by the ALT coin run. Before, BTC led alts, but now the Alts have been moving before BTC and BTC would follow. With this theory, I would like for you to have a look at LTC and what it's doing right now. I think that LTC will make massive moves today if it breaks its 184 level. It wont break that level though until BTC breaks its Inverse H&S. We are at a mountain peak right now, on one side we have a bearish downturn and possible continuation, on the other side of the mountain is a beautiful gondola that will carry the entire crytpo market up to a new bigger mountain. If we fall from here the rest of the crytpo market would follow BTC once again so these times are very important to watch the market and act decisively.
Stay on your toes!
Comment below if you would like me to update with a more zoomed in version of this chart on the 15 or 30 min.
Stay on your toes!
Comment below if you would like me to update with a more zoomed in version of this chart on the 15 or 30 min.