ON THE PLUS SIDE: WE ARE ABOVE ALL EMA AND MA MACD LOOKS VERY BULLISH WE ARE WELL ON THE WAY TO COMPLETE RIGHT SHOULDER OF INVERSE HEAD AND SHOULDER FOR HUGE UP. THE NEWS OF LITEPLAY
BUT: TAKE A LOOK AT THE BLACK UPPER BOULANGER BAND. WE ARE PASSING IT. WE ARE APPROACHING TOP IF ICH. CLOUD. DOESNT HAVE TO BE A HUGE DEAL BUT NOT USUALLY A BUY SIGN. RSI IS JOGGING INTO OVERBOUGHT TERRITORY AND IM GUESSING WILL GET THERE BEFORE INVERSE H&S COMPLETES. ALTHOUGH BTC DEFIED ALL EXPECTATIONS OF A SUDDEN PLUNGE WHEN IT FLIRTED OCCASIONALLY WITH A VERY IMPORTANT SUPPORT LINE, BTC STILL HASN'T SHOWN THE MARKET THAT ITS UPSIDE CAN BE TRUSTED, HENCE THE RELATIVELY LOW VOLUME FOR SUCH AN AMAZING FEAT OF NOT FALLING LIKE A STONE. EVER HEARD THIS IN THE CRYPTO WORLD?: BUY THE RUMOR, SELL THE NEWS". NEWS FOR LITEPLAY IS CONFIRMED AND NO LONGER A RUMOR.
SO WHATS GOING ON? FUD THATS WHAT. THE LAST PIECE OF THE PUZZLE IS PSYCHOLOGY. TOO MANY ARE NOT COMFORTABLE ENTERING WHAT LOOKS TO BE AN AMAZING ENTRY POINT BECAUSE OF THE REASONS MENTIONED ABOVE FOR BTC. WETHER THEIR IS AN INTRINSIC TIE BETWEEN BTC AND ALTCOINS OR JUST A PSYCHOLOGICAL ONE, BTC SEEMS TO LEAD ALTCOINS UP AND DOWN WITH IT.
THE SAFEST WAY TO GO RIGHT NOW WOULD BE TO WAIT FOR EITHER: 1) THE INVERSE H&S IS CONFIRMED, WHICH AS GOOD AS IT LOOKS IS STILL A FEW CANDLESTICKS AWAY. 2) WATCH BTC VEEEERY CLOSELY AND IF SIGNIFICANT GREEN VOLUME RETURNS, THEN CONSIDER TAKING POSITION.
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THANKS AND GOOD LUCK.
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ANOTHER IMPORTANT RESISTANCE LINE FOR LTC IS THE BOTTOM OF THE RISING RED CHANNEL.
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FIRST REJECTION AT BOTTOM OF THE RISING RED CHANNEL JUST OCCURED
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SECOND REJECTION AT REJECTION AT BOTTOM OF THE RISING RED CHANNEL ON THE 1H TIME FRAME
+1 from me.