Finally, we have a confirmed breakout to the downside.
Many Alts have similar set ups that are all breaking down after a long period of consolidation.
Disclaimer: This is only my opinion, make of it what you wish. It is not financial advice.
Interesting looking chart with rising volume the last few days.
Might be shorts covering - short interest is high with 20% and might go in squeeze mode since it´s a small cap with relatively low liquidity.
Round bottom looks nice as well as the double bottom (almost.. more if you think of aa supportzone than the previous low)
Indecision right now, if wedge plays out we go up
It already had a great bounce off my first support
We may need to visit 2nd support (~7900) before going up... i really doubt we need to go any lower than that
Sadly 2018 consensus event didn't give us the pump we thought it would. But remember, that could just be what they want you to think before they destroy all bears.
NEO just broke out of the large bullish pennant it has been consolidating in on top of the big 236 fib, and is bull flagging under a downtrend line for a breakout to the upside. The MACD on the 4h is about to cross up, the RSI has a good amount of headroom, and volume just started to pick up. Let's see if NEO is about to do its "Superman thing".
The drop from the Bearish Gartley BTC just had was caught quickly by the bulls, and although there are a few bearish indicators, such as the MACD on the 1D, overall BTC is still showing more bullish than bearish signs. Bulls have repeatedly held price above the 50% line inside the large consolidation pattern it is in, and just broke upward out of a smaller...
So as we see on UJ price is stuck in a zone and is in consolidation. This shows us that both the areas of support and resistance are strong, so in this instances you wait for price to break out of zone and come back and enter off the retest. You have good assurance that price will respect the zone because of much it respected before the break out. Your Stop Loss...
LTC has been lagging many of the other coins and looks to be gearing up for a run as long as BTC continues to hold up for the time being.
Currently it has been consolidating on a big 786 fib support, slowly prepping its engines. If a breakout with enough volume occurs, LTC could be looking at a pump as high as $160 (35-40%) before bouncing down off the next major...