I think we're close to the bottom if not at the bottom - stochastic is floored on most timeframes including 1d, I'm starting to see divergences on lower time frames, big divergence on the 1d.
Getting lots of buy signals on the 5-30m charts.
There's also a major trendline we're about to touch, will post a pic of that next
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Here's that trendline we're getting close to:
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I wouldn't be surprised if we had one more kick down to 0.0135 or 0.0130 just to really test that fibonacci level, but I'm closing my short here anyway
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Pretty sure we've hit bottom:
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Still think we've just about hit bottom but there's a new pennant forming so this is what it looks like to me currently:
Target should be around 0.0125ish if it plays out, then I'd expect it to try to break out of the top of the wedge... let's see
@donmecha, hmm unfortunately it looks like it's forming another bear pennant...
donmecha
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@Oops_I_Charted, LTC is not having a great week, how'd you go with the short? I wanted to but i panicked that it would go straight up after hahah
Oops_I_Charted
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@donmecha, short worked out perfectly, it hit my buy order at 0.0135. Wasn't a huge gain or anything but it was a pretty straightforward trade. Keep an eye on the new pennant that's forming now - not totally convinced it'll break downwards so I'm not going to short this time but I'm definitely watching it. Would probably hit the bottom of the wedge, which might make it a nice entry for a long. Going to wait and see
Oops_I_Charted
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Revised targets:
Maoro
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Do you think LTC could reach 50$ by mid/end June ? I've heard that a lot but it seems really bearish to me.
Oops_I_Charted
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@Maoro, I think it's possible but I don't really have any technical details to support that. But I believe it'll go higher eventually just because of fundamentals. I think we might need a little more time to cool off from the last pump though.