You see where I believe the REAL resistance line will be for now. It COULD change. I believe the time of testing that resistance line will be June 10th to 12th on the 1d (daily).
IF it breaks through that resistance line, that my lay precedence for us to see new all time highs that may be well north of $1,500 USD on 1w (weekly) BTC/USD chart before the end of 2016.
I do believe LTC/USD and BTC/USD will rise proportionately in percentages ( */- 3% ) on the 30-Day averages. They are already within that range now. 21.43% BTC/USD and 20.19% LTC/USD at this writing.
Comments
tipua411
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thanks you @ProwdClown
WyckoffMode
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@tipua411, Yes, ma'am. However, THAT {I'm afraid to say} was only something I was looking at a long time ago to see if it panned out. I do not use this near as much as Wyckoff's rules on the Composite Man to determine when good moves are coming into play. Especially, 20+ percent moves that come to fruition during a SPRING upward.
I'm going to start looking through several Alt Coins [That appear to be emerging from a bear trend - THAT IS THE KEY: Emerging from a bear trend - for emphasis]. I will give updates on those coins in which I see Wyckoff's cycle to a SPRING coming to fruition.
Once those coins are found and the SPRING plays out to a BREAKOUT, one can use other indicators to look for possible shakeouts, breakouts, etc...
BTW, thanks for commenting and happy trading.
WyckoffMode
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@ProwdClown, I'm actually embarrassed about posting this chart. hehe
I should never have posted something I know absolutely NOTHING about.
WyckoffMode
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Obviously looks like way too many bag holders from the previous pump & dump last summer dumping their LTC. I got out of LTC a couple of weeks ago and not getting back in. My concerns seem to have been confirmed regarding bag holders.
It's also quite possible LTC whales are using LTC to accumulate more BTC. I'm staying away from LTC.
WyckoffMode
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WyckoffMode
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WyckoffMode
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I'm beginning to believe this is the route laid for now. If we go up into the lower green channel [Going horizontal as trend line], I would feel much more comfortable cause we would be in a whole other zone in terms of bullishness. Since we are in a "mediocre" (controlled) pump, I see us in the lower blue trend line for at least a couple of weeks to come.
WyckoffMode
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WyckoffMode
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This chart with red indicating points of entry with stops at the bottom of red. Exit conservatively and re entry conservatively. Do this with a portion of LTC holdings.