We are now in a clear uptrend channel. Yeah we can drop to $6k tomorrow but at this point we are still in the money and will be at over 100k in a couple of years. Unless government gets really upset about missing the entry and this channel line breaks it's moon time.
Blue triangle everyone was looking at broke down at 6K and is no linger valid. Chart pattern has morphed into a falling wedge in a long term uptrend. If institutions step in at $4500 ish it's saved and will take a while to change hands. If $400-4500 support breaks see you at the red line. Key here is to watch for the break of the falling wedge to the upside if...
If bulls don't jump on this sometime around 06/02-06/05 we are going down to green line. Buy around $6700 stop around $6000. If we break support and stop triggered next buy around green line with stop bellow.
For those who liked the chart before when I posted it originally. I did nothing new to the chart just extended the black line. Might not reach all the way to $375 this time but more pain to come. Wait for RSI to dip to or bellow 30 and buy again with stops. Neutral for now with bearish bias.
Market makers are trying as hard as they can to break the support and the weak hands here. I thing it's the last attempt before the next run up in August. Strong multiple long time supports are in play. Stop loss bellow red line. GLTA.
I am currently short term bullish for a trade with a tight stop. Ether is also very cheap compared to BTC at the moment as well. I think however that BTC will reach $4800 and ETH will reach $100 before reversing for a long haul. For now I am neutral and simply trading with a tight stop based on very strong technical support around $375.
From 0 to 20k now back to 7k or 30% discount if you ask me. We will be bouncing around 10k for about a year now with all the overhead, unless Amazon starts accepting or US gov makes this illegal. Still great for money transfers without paying bank fees. So is LTC so is ETH and 100 other coins. Diluting the price of BTC. 10k deserves to be the new norm.
#LTC just broke down of a rising channel. Long term trend is still up. Only 20% of people with money are messing around with crypto for now. We are not done till about 80% are invested and your 65+ yo neighbor is asking how to buy #Litecoin. Ez money however has been made and hedge fund crooks are all over this at this point. They will manipulate more sideways...