So the cloud is suggesting bullish and even more bullish just as we are getting to the end of the rising wedge (which typically falls outwards, Bearish). RSI is starting to get to the top end, also bearish. MA and EMA are not getting closer, crossover is not nearing yet which is still in the bullish zone.
Curious what will happen next. Short term, a little sideways action until it hits the support trend line. Either grinds sideways out of here completing the rising wedge drop out or sideways along the $80 mark then bounces again back to the top trend line hitting targets of around $84
Comment what you think.
Trade active
⋅
It has bounced off the support on the 30 min candles, 1 hour candle looking great. Personally bought back in will be looking to sell our $84 plus to ride the waves or hold with a close eye on a sideways grind around $84 prepared incase a drop out of the wedge. RIS is hovering quite high but not into the overbought zone and dipped nicely.
Trade active
⋅
While it bounced off the support trend, it is grinding up along it, rather than towards the resistance trend.
Be cautious, easy to drop out from here. Keep a close eye on it.
Trade active
⋅
Caution still advised here, its almost back fully into support line while RSI has only been this high when it's been on the resistance trend.
If you have a lot staked in here and the buy book is looking a little tricky for your available fiat cash out plan, check the BTC cash out route and check BTC charts. If LTC does down from here and BTC chart looks ready to pump, it's a good time to switch across.
Comment
⋅
Someone's going to need to zap this very shortly before it falls out of the wedge. If this candle closes outside of the wedge, it could be the start of a drop to 77-78 mark
Comment
⋅
Wedge broke downward, if you're in still, exiting and waiting for a better entry would be wise. If it forms back in then not much lost.
@jaytraderm3, In my opinion with little analysis, I think It will go back up to $83-84 area, then It will start making correction to $55-60 area.
jaytraderm3
⋅
@HL1, it needs to start making a correction and i think you are correct on it going down to the $60 area, i guess we will have to wait and see.
piatt.jesse
⋅
@HL1, please explain your thoughts on it dropping down to 55-60?
panpp
⋅
Put a closer eye on the market, it is going down.
Adamkm
⋅
@panpp, You'll notice that 22m before your comment, I said it broke, 1 hour before that I said it's going to break, 2 hours before your comment I said be very careful and start looking for exit. :)