Still in the short term bear market, and overbought. Yes, even though I'm stuck in a Long I would recommend selling the upper 580 range. But I'd also be looking to buy in the Lower 570 range. I'm stuck so I can't, but if it was me I'd have BitFinex Hidden orders at $570.1 or $573.01 or maybe $576.01
I Tend to Trade in TIME segments... Long, Mid, and Short term and tread each as their own individual market. This is How I break down current price action to make an educated decision.
Part 1 (Daily) Longterm) Bullish. Long Term, news is bullish, fundamentals are bullish, and the long term trend is still in play. A Measured move from a bullish breakout would top...
Willy is stupid.
RSI is stupid.
RMI is stupid.
Bullish MACD Divergence.
We're at the 50% support,
On a double bottom,
In a bullish market, After the bearish triangle breakout,
with good news all over the place....
HOW THE FUCK COULD IT GET ANY MORE BULLISH!?!?!?!?!?!?!
Do we need Jesus to come down and endorse bitcoin?!
If I were just trading on the Indicators I'd say to go all in right now, but the lack of selloff compared to the other patterns (75% drops) and the failure to make substantial new highs has me worried for the long term value of LTC to BTC.
Could break out soon... But there might be a big sellout first.