LTC, one of my favourite coins, is clearly touching resistance currently.
6 previous times this price region has acted as a resistance and at least 2 times it acted as support.
But these days you can just never know with LTC. Thats why I suggest a tight SL at $58.01
Target is $47 region where it can also meet the 200MA, but as I said, LTC is acting up lately so...
STRAT is back on the 61,8% FIB lvl. It positively tested this level 4 previous times.
If you wanna get into STRAT wait for a confirmation. The trendlines are not yet confirmed as they need more touch points to be more certain.
Wait to see what STRAT is gonna do next. If it goes below the down purple trendline then you can expect a drop to around .255 and .252....
QKC recently reached +- 1430 sats and has been testing its strong support.
For now QKC is up with around 7% in the last 24 hrs. RSI upwards at 53 and a bullish MACD cross indicating QKC's desire to go upwards.
GOchain is currently testing out the support level.
This support level has been a strong one which held GO up from around August to September.
Right now on the 4H timeframe GO seems to be in an uptrend.
Currently it is on the bottom of the Bollinger Bands with an RSI at around 43.
GO recently tested this support zone twice on November 25th and 27th....
These past few days have been slow for BTC. She has been swinging in between the support and resistance for too long and is ready to breakout.
The RSI is at 45. When RSI <50 this indicates a market with more sellers than buyers. At this point BTC would need a sudden charge of a lot of volume to break upwards, but with these current conditions I do not see that...
For the update I put in the ABCD pattern firstly made by cherif100 (link: www.tradingview.com )
His ABCD pattern is being respected by BTC.
The Bollinger Bands and StochRSI are showing bullish movement for BTC. Resistance lays around $6800 area.
This current movement is only a wave to retest resistance, before BTC will be dropping down to...
Bitcoin will want to retest the resistance again at around $7100-7300 region. Last time this resistance clearly was way too strong.
My hypothesis is that BTC won't be able to break it again this time and the downtrend will continue.
Hi Cherif, if you are reading this :)
I have been studying the basics of TA for some time and I tried to just throw myself in the deep with this analysis.
I'd like to hear your thoughts on this to help me learn everything about TA.
What I think: BTC seems to be closing this wedge since Feb 2018. It has 3 tops and 3 bottoms so this should confirm the trend....