Hi again. I just want to mention that Litecoin is often progressing in front of Bitcoin trend.
And here's another danger pattern to monitor at daily chart for the next move determination.
I marked in my chart the most important levels for actual macro.
You could also use daily 200ema /green/ as neckline at this case.
IF daily 200 won't hold , technical target for this formation could even lead to a retest of big recent resistance.
I mean fullfill target of this pattent is cca 38.50 usd.
I know that 65 usd is very strong , however it's been tested many times. It's not stronger by testing. It is weaker . Often traders mistake.
Of course, I checked fundament & getting over by comming Halving and STOCH/RSI is prepared for a trend breakdown.
Maybe, we could see a stronger bounce yet about red daily 50 average.
But it's not enough to me. .. Everybody knows this could affect the Bitcoin price so is in place to keep an eye on .
For a bullish side . This neckline with fibo is in ascending formation and should lead mathematically to 160 usd or highs retesting.
At the top you will see crossing 2 channels and Litecoin in in downtrend. So for some bulls I need to see confirmed break to the upside from the orange channel with daily volume above average line. Rise above 101 and 125 usd better too.
Nobody knows how long it take. Volume is low and nobody buying. Only botts. So let's wait for an alert ; - )
* This is not a financial advice.
And here's another danger pattern to monitor at daily chart for the next move determination.
I marked in my chart the most important levels for actual macro.
You could also use daily 200ema /green/ as neckline at this case.
IF daily 200 won't hold , technical target for this formation could even lead to a retest of big recent resistance.
I mean fullfill target of this pattent is cca 38.50 usd.
I know that 65 usd is very strong , however it's been tested many times. It's not stronger by testing. It is weaker . Often traders mistake.
Of course, I checked fundament & getting over by comming Halving and STOCH/RSI is prepared for a trend breakdown.
Maybe, we could see a stronger bounce yet about red daily 50 average.
But it's not enough to me. .. Everybody knows this could affect the Bitcoin price so is in place to keep an eye on .
For a bullish side . This neckline with fibo is in ascending formation and should lead mathematically to 160 usd or highs retesting.
At the top you will see crossing 2 channels and Litecoin in in downtrend. So for some bulls I need to see confirmed break to the upside from the orange channel with daily volume above average line. Rise above 101 and 125 usd better too.
Nobody knows how long it take. Volume is low and nobody buying. Only botts. So let's wait for an alert ; - )
* This is not a financial advice.
Comment:
BTC & LTC both are testing important daily 50 ema average, which could act as main pivot with my orange channel here.
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Still griding bearish channel below 618FIBO and Pivot.
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Tomorrow is Halving. Now still testing neckline. All we currently now is that pre-halving hype did not came. Even didn't broke from downtrend channel.
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Look at that post-Halving pullback.
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Back in downtrend channel testing neckline. Could drag down the whole market if green ema 200 will not hold...
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Daily 200 broken . Waiting for next days price action. Daily candle not closed.
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If falls below 74.70 usd, it's all over : v
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Same as ETH. IF golden ratio MA350 won't hold. This aiming targets around 35-38usd.
Comment:
LTC testing upper canal edge. IF break up over canal and white bearflag, could test 101usd fibo 618. IF down, it will mean a hard test of MA350 and maybe my target 38.50usd will be in play.