Based on the MACD and RSI, it may be better to base the lower support on the recent highs rather than the December low. Historically, when the RSI hits 30 BTC rallies, and the RSI appears to be trailing towards 30 around the same time as the current wedge/triangle concludes. Also, BTC dominance has been decreasing and appears to be on a trail to around 60% market...
Just what it looks like to me. The $16,000 projection at breakout is actually based mostly off of others research. But based on the previous outbreak we had being an even greater percentage it definitely seems feasible. Thoughts?
Litecoin broke its strong uptrend and retracted to its original channel when it fell below $80 (see my last post that was quite wrong). The good news is that it is now at the bottom of its original channel, so hopefully its all up from here. If it were to break the $63 point I'm not sure what would happen next... it can be hard to make sense of this market.
LTC/BTC ratio bottoming out, along with most altcoins, except for a few exceptions (Tezos, ChainLink). Will Bitcoin settle out during the month of September while Altcoins revive? Bitcoins 200 day MA at $6,194 works as the strongest support, which shows how much more the currency could potentially drop.
LTC 10 day MA and 20 day MA have just crossed. This has continued to occur before a bull run. Looks like Wave 4 setting up, especially with todays bump upwards helping to push the 10 day MA even higher. LTC has been due for a correction upwards while the whales have squeezed us dry, and it appears the bottom has been established! Happy Trading!
This is not...
Ethereum channel is not as aggressive as 2017, are better investments elsewhere? Has this coin seen its best days? It will still go up with the market, but I could see another coin swooping in for the number two spot.
Litecoin has come back from drops this drastic before. We had a 50% drop last year before hitting all time highs. The 50 day MA needs to drop off from the recent high. Essentially, near the end of August the 50 day MA drops hard, which could potentially force a hard correction upwards.
Hey guys, a lot going on in this chart. Lets start with what's happening right now. Litecoin has been consolidating ever since the halving breakout that whales took advantage of. Now we are seeing the 50 day MA finally coming down to meet with our more recent 20 day MA. As soon as these two connect I am expecting a breakout to $100, if not $110. I have drawn out...
This looks like an expected Bitcoin path to me. We are still adjusting to the unsustainable breakout, where the price nearly doubled in two weeks in late-June-early-July, but things have balanced out and we are near the middle of the channel. Right now things could go either way, but I seriously doubt Bitcoin can drop below the $11k support