Confluence in market structure, trend line break, and MACD divergence confirm a pull back into the 38.2 retracement areas. I'm targeting a potential pullback to the 38.2 area where volume profile shows a gap. Depending on market state at 38.2 I will re-evaluate target.
LTC has confirmed a bullish divergence with a potential bottom in price action forming. Once price bottom is confirmed; I'm looking to buy ~$150 and sell in the reload zone of $300. Double it up w00t w00t!!
Price is desperately trying to discover a bottom. I'd like to see a short term W come in as drawn in white. Verification of a bottom will dictate further upward movement. However, failure of previous lows ensures lower price discovery - toward 78.6 and muak levels.
A definitive top was defined on March 6th. As price rallied into the SEC decision it bounced nicely off the 4 hour bear trendline. Fib retracements off this range indicate potential buying opportunities for the long term at $800-850. OKCOIN:BTCUSD3M