Last year cryptocoins have made spectacular returns, now the market is cooling down. Fear, uncertainty and doubt are controlling the market. The bears are still in the game. I believe we are first heading to lower levels before the tide can turn into favor of the bulls. I sold the bounce back up a few days ago once i realised the party is over for now. Made the...
It is dangerous to catch a falling knife. Today all the cryptocoins where back in green. I believe it's a dead cat bounce. We can go lower in the short term. Worst case scenario to 5.5k. I believe the bottom is 8k until bitcoin price stabilizes around 9-12K.
Bitcoin is breaking through $4000 (Resistance Level 1 as I previously identified) as I write this post. I am republishing this post because I am showing you NEW INFORMATION which is the YELLOW AREA which I regard as DANGER ZONE where it can fail and retrace. So i'm looking to ride it up to this price as it breaks through Resistance 1 and 2 but, as it approaches...
LTC is still seeing healthy consolidation from the breakout. If we continue to hold $50 it will favor the bulls to wake back up and head through the low $50s resistance. With many rejections in the $52s, getting over these levels will have us looking back to $55 double top. Still a correlation to BTC when volatility picks up to be aware of though not very strong...