Breaking upwards on all trend lines, Its been a nice week for bitcoin.
With the CM moving average indicator moving into a bullish signal on the weekly it looks like much more good news is ahead for BT for the upcoming few weeks
LTC is resting again 0.618 FIB Retrace from March 2017 surge, which is extremely strong support. In the next few days or weeks its certainly possible to see a surge up to 2.618 Fin ( around 0.045BTC, Near 4* current price). Historically LTC goes from bottom to top withing 10 weeks
We are looking good for a bounce here, as indicators start to show BTC as oversold, and a nice green ichimoku target on the daily; from this i'd expect a bounce down at around 11k
HOWEVER.... On the weekly we see a long term ichimoku creeping to the the game which could see us push to 12k by mid JUNE.
Wile everyone is called this as a bear market again the long term fib and the RSI looks like it might explode
It wont be an easy mark to break, but wouldn't be surprised if we saw an pump to the 11k mark before any real resistance
Based on past performance over the last 2 years, LTC could certainly blast of to over 0.11 BTC by the end of June, and this could be the beginning of that movement as it looks to have hit the bottom of its satoshi value.
This would put LTC around the commonly predicted $1000 mark in this period
The 6000 drop is lucking less and less likely, As the bears struggle to break trend line at 6500; and sentiment around bitcoin is definitely changing. A push above 7,800 will refuel the bull till it reaches the moon.