ninjacookies
Long

LRC/BTC Bullish Divergence ...possible strong short term bounce

BINANCE:LRCBTC   Loopring / Bitcoin
Bullish divergence is forming on LRC/BTC on the daily.

Previous bull divs have resulted in very strong short term bounces. I would not consider this a long term hold, but rather a swing trade scalp.

This is a riskier trade because BTC is on a mini run right now to 8k. But LRC's price seems to be holding fairly steady.

2 short term profit targets outlined with the green lines.

Comment:

We're also seeing a *possible* TTM long signal on the weekly. Last time this happened, LRC exploded for over %100 gains in a span of days.
Comment: Looks like the breakout came right on time.

Hope you all were able to lock in some profits. BTC looks like it's on the brink of holding on for dear life, so things can get tricky here.

But we'll see if 36x support can hold.

Comments

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