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Is the bottom in? possibly, but I doubt it. can we "double bubble" and see exponential price growth in the next couple years? absolutely. is the huge increase in general bullishness this past week on bitcoin justified? definitely not.
don't forget to zoom out. the (bearish, as many would call it) forecast I detailed in my last post over a month ago on June 13 ...
this recent bull move in the past week appears most likely to be a bearish recharge due mostly to the dire lack of volume
Low volume selling, overextended to the downside.
High probability and high reward to risk ratio.
Don't get stuck in a dying altcoin - stop out beneath the lows.
See comment for description (getting around a TradingView bug).
The green line signifies the price level that price would have to get to in order for simple RSI-14 to be at 20. Historically, this is an excellent signal to go long.
Let's see how this resolves.
On a related note, I would be very comfortable with $8200-$8300 as a long entry at least on an initial test of the level.
Chart discrepancies on LTCUSD between Bitfinex and Coinbase present some difficulty in determining price targets and resistance levels. Similarly high volume LTCUSD markets such as OKEX and Huobi are in relative agreement with Bitfinex, and so I look to Bitfinex charting.
Whether this market develops as predicted in this chart will depend greatly upon Bitcoin ...
Easy, quick scalp - featuring bullish butterfly!
Take profit at the fib retracement levels provided up to 5-7% from the lows, stop out ~1.5% below support (but not on a wick!).
A beautiful and likely possibility.
A bull break of the bullish pennant gives a target of an $1130 move to the upside from the breakout. This is nearly the same as the target given by the measured move setup from the $7825, $9760, and $8620 swing points.
This bull move will be invalidated upon a sustained break of 9425 (or far more conservatively, 9160). The ...
In other news, I strongly believe we will reject between here ($9350) and roughly $9.5k. Roughly $10.2k is another potential big rejection point.
developing price action - will elaborate in comments.
Extremely violent price action indicates that we have more downside on the 4H and, on higher timeframes, that there is significant likelihood that the move from the lows was a bull trap. Whether we ultimately move to fill the gap from the short squeeze and/or form an equilibrium pattern, complete an ABC correction from the $9.76k highs, or move to new lows since ...
head and shoulders setting up on the 1H, hidden bear divergence on Daily
here are some levels and targets to consider bullish entries
will elaborate further after current price action dies down
overextended every timeframe, bearish momentum and volume div, sentiment has become euphoric, here we go!
bullish consolidation with all dips getting quickly bought has painted an ascending triangle pattern which will soon (next thirty hours) be ripe for a break to probable upside continuation before major pullback
bullish consolidation with all dips getting quickly bought has painted an ascending triangle pattern which will soon (within the next thirty hours) be ripe for a break to probable upside continuation before major pullback