johncbeatty

johncbeatty

Major supports have been broken and dramatic selling is still underway, however from a risk reward this idea seems worth considering. Extreme oversold condition on the daily, plus we are at the price area that the initial bull run to 400. Even if this is a simple ABC correction and not a full bull reversal the upside target is ~130 (50% of the downward impulse...

johncbeatty

Overall market sentiment remains bearish and BTC is struggling to maintain 8k. That said; although we're at the line, so far the channel is holding. It may seem a bit scary to some, but betting here offers an excellent risk reward ratio. The upside is extremely high with a completed 1.618 extension giving us LTC @ ~725. A break of the channel to the downside and a...

johncbeatty

Crashing markets across the board, still 1700 by mid-year isn't out of the question. I've revised the channel pitch since the steeper channel failed to hold. Provided the prior pitch holds we should see a tentative recovery until the downtrend is officially broken. I've marked the upside targets in blue on the fib extension tool.