Pattern looks very familiar to the ETHUSD triple bottom pattern. LRCUSD third bottom seems to be forming with decent short term upside.
Not financial advice. Do your own research.
According to the Fibonacci Time Zone indicator, today Loopring enters the new cycle, which does indicate that it cold be the time to act now. Price has tested the low at $0.11, where it has rejected the upper trendline of the descending channel.
All-in-all the trend is bearing and it is hard to argue with that. But it could be the very bottom and the end of the...
There has been a recent downtrend in price, the bars will soon touch the BB's lower band and retract. The price is currently at a low, even below the drawn Support level, for this reason I would advice traders to wait for price to be more constant in the Support and Resistance zones. But then buying now would also be good as we expect price to rise after the bar...
Responding very nicely to the pull back, I think that once this trendline breaks, there could be some quick upside. If BTC can hold up and make the run to 8k levels, it could open up some juicy opportunities in the alts. LRC has been on my radar for a while, and they just launched their IOS application today, and it looks good to outperform BTC.
If you don't have...
This is BITCONNEEEECT !!!
Seriously buy Loopring now or miss out.
I'm talking panic buy.
See you on the other side of this trade. :)
(this is not trading advice, you are responsible of your own decisions)
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