Should see a nice run up. Fib support levels are strong and an obvious trend correction should come into play. I will look to cover in the $530 range.
Severely Oversold conditions, lots of buyers stepping in at $450. I think we will see a move to the upside after this past ABC correction, then we will probably head for new lows.
I think we will see a move back down to the $350-400 levels based on the chart right now.
It's simple. If this plays out I will enter on the bounce.
Simple. A bounce off the neckline or a strong push through it would be the only long position i enter at this point.
Corrective wave 1 equals corrective/impulse wave 5 in most cases, if that's any use in this situation its looking like a move towards $450 is coming sadly. Or a possible bounce at the price levels we're at now. Fib levels help this assumption.
The LTC chart is a perfect descending triangle indicating a bearish continuation at the macro level. The price level being tested is VERY important. This is a good representation of the overall crypto market. A rebound to the $120 range would trigger some serious buyers.
Entered a position at 604.00 with a tight stop at 594. There was about 20,000 ETH volume that was sold last night within an hour period that was bought up pretty quick. Price action looks - Good Pattern - Pennant - Good
Visual representation of support and resistance zones.
I'm not long until the wedge is broken through with strong volume. Stop will be below upper trend line. Possible for a continuation through this wedge. Will be looking to size into a large position upon confirmation.