Bullish, long-term consolidation pattern forming similar to the one we just witnessed in ETH. May take 1-3 months but the case looks bullish for price target of $35-40. As you can see in the chart, previous rallies traded 5.4+ x the 200 day moving average. Price is currently 1.46 x 200 day moving average, reducing risk substantially.
Taking a look at previous corrections in relation to 200 slow moving average price, gives us one way to look for target prices, should bitcoin ever stop making daily ATH's ever again. ;)
As you can see price is currently about 2.5x 200 SMA. BTC has historically gone upwards of 4-5x 200 SMA (before a major blowoff), so there's no guarantee a correction is...
RSI showing L oversold territory on the weekly chart. The longer the chart, the more reliable the data.
Is segwit2x (ending Nov 16) bullish for LTC?
If trend continues, current prices are a bargain.
Recommending a small allocation of portfolio (for the long-term).