If the 50s dont hold, next support levels are 15- 20 dollar levels, which wont be plesent for alot of people.
Next two macro targets on the long scale chart if cryptos dont die the next 5 years.
Dumping ETH at the bottom. If only i had more money to buy.
Everyone is expecting BTC to drop to 3000 - 5000. I heard people "predicting" ETH hitting 50 dollars soon. This probably means that a real rally is coming very soon, where the shorts are going to get squeezed hard.
Its going to take only a couple of weeks.
First resistance level is 90- 95 bucks. If we can break it, the next one is 120. We can get there pretty fast, depending on what BTC does. Regardless, it is pretty dumb to short or sell LTC at these levels.
We are in the infent stages of a trend on the weelkly chart of BTC in my oppinion. Firs to of all the positives on the chart i am seeing are that we have a green candle closed on the weekly, which indicates some buying pressure, also we have not broken the support levels of lets say 6k. Second we are still not seeing a trend confirmed on the weekly chart but,...
The range and momentum indicators are cool on the weekly chart, also bitcoin has formed a flat bottom. The perfect technical set up for a take off.
BTC just made a higher low. The next step is making a higher high, breaking 8500 for me to start seeing positive signs in a helthier market.
Alot of people are expecting some dramatic crash of BTC below 6k. However an alternet scenariou that no one is talking about is if the price keeps ranging in the triangle that it is currently in untill it reaches the major purple support line drawn on the log scale chart.
It looks almost the same. The only difference is that LTCs cycle looks alot more time compressed. If we are mirroring what BTC did, we should be forming the bottom as we speak.
Sell every rally when the price gets close on the 21 EMA on the weekly chart. Very bad. We can easily see 30 dollar LTC if we dont close above the 21 EMA on the weekly chart soon.
LTC is already in a downtrend on the monthly. BTC still hasnt closed below the 21 EMA on the monthly which gives me a bit of hope. However if we close UNDER the 21 EMA on the monthly chart we are entering confirmed longterm downtrend in BTC which is going to suck (atleast 1 more years of down/ sdeways). For now i am neutral.
If you think altcoins cant lose 90+ percent of their value in a bear market. If you draw a paralel and you got in like 10 bucks on the downside thinking that it was a great price and then it fell down to 1. You needed to hold for 3 more years to see a profit.
Boy im full of scenarious today. Lets hope one of the bullish ones come true. Because you know it can always go to 1200.
So many contradicting scenarios. You got to deside if you are going to invest in the market or trade it.
If we werent so overboght on the Stochastic indicator maybe we would have a decent shot, however as it looks we are going to have one of those spike downs on a random day (i give it about 65 percent). If we break trough and retest the 200MA from above i will probably switch my view. If we get rejected first target would be the lows again.