Advanced pattern spotted...spilt cup! with target being the wet floor...
1 Litecoin = 1 Coffee...(probably not a Starbucks one though)
Fundamentals look good at bottoms...the real King will be crowned.
Still bearish on this expecting a double bottom or new low to be made in the coming future.
Been tricky calling the moves lately but I'm still of the belief this is going to free fall down to sub 3k~ levels in the near future, It may go up a little more to around 8k~ before it starts dumping but it's getting close imo.
Potential long setup here however I still think BTC is long term corrective.
Expecting 1 more high to come in around the 7k~ area which I will be looking to short.
This could be setting up for quite a large dump...timing will be tricky here but I don't think we have found a bottom yet.
Potential scenario here that can be looming, avoid being trapped.
As title suggests...I will add that if BTC is to bounce back up to around 7k~ odd levels it will probably end up being the biggest (Bull Trap) ever pulled and free fall off the bounce to around 1k~ levels destroying many.
Move from 6k-10k has been wiped out with quite the force so there is a chance this move down from our 13k~ top is still corrective and can get very ugly seeing BTC fall to sub 1k levels, Timing of the moves will be quite hard to predict going forward.
Attempting to adjust for unfavorable conditions...nothing moves in a straight and a large bounce is on the cards to create a potential bull trap which could be the get out many people trapped in this market are looking for.
Moving forward into this year I will keep it quite simple I'm bullish on BTC until that $6430~ low is broken if we start cycling higher the invalidation points will be progressively higher(which I will update) , do I think BTC will make a new all time high this year? Yes I think it's quite possible or maybe early next year timelines are difficult however, what...