You forgot all about Litecoin didn't you?
Since so many Bitcoin charts are focusing on the comparison of the 2014/15 bubble with the 2017/2018 bubble, I thought it made sense to take a look at its little brother. So there seems to be an established support/resistance level around $30. This coincides with the top of the previous bubble and the resistance level on the way up in early-mid-mid 2017. No way to say for sure that this will hold, but its a zone to watch in the coming months. A repeat of the 97% drop would put us around $10. I think the $30 level could hold as its cycle seems to be slightly ahead of Bitcoin's and the RSI is nearing the previous lows which occured right at/near the bottom giving way to capitulation. I find it hard to believe you'd dump at $30 if you bought at $370 but some people will.
I have called this a "long strategy" but really this is just a set a reminder for yourself to check the price in January and see if the pattern still exists. This is just an idea, not investment advice. DYOR, and good luck trading!
Since so many Bitcoin charts are focusing on the comparison of the 2014/15 bubble with the 2017/2018 bubble, I thought it made sense to take a look at its little brother. So there seems to be an established support/resistance level around $30. This coincides with the top of the previous bubble and the resistance level on the way up in early-mid-mid 2017. No way to say for sure that this will hold, but its a zone to watch in the coming months. A repeat of the 97% drop would put us around $10. I think the $30 level could hold as its cycle seems to be slightly ahead of Bitcoin's and the RSI is nearing the previous lows which occured right at/near the bottom giving way to capitulation. I find it hard to believe you'd dump at $30 if you bought at $370 but some people will.
I have called this a "long strategy" but really this is just a set a reminder for yourself to check the price in January and see if the pattern still exists. This is just an idea, not investment advice. DYOR, and good luck trading!
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Support level seemed to hold on the first big bitcoin drop... keep an eye out for some capitulation if bitcoin drops again.
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Into the green box. Lets hope it holds.Note
RSI is lower than it has been since late 2013 (weekly)Trade active
hope you bought your friends and family a lovely bag of litecoin on the Thanksgiving weekend sale.
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Dipping lower than expected but still valid; you've probably put off your holiday shopping anyway.
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Back in the zone, looking for another spike down to mimic the previous bubbleTrade active
Popped out of the channel. Right on schedule.Trade active
*Not financial advice*
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Target 1 hitNote
Ready for the next level? Watching for that Golden Cross...Note
Close enough to Target 2 that I'd call it a hit... $73.41Note
Second target hit (within $0.02). Thats all she wrote.Thanks for playing
Closed.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.