Get started

Trend-analysis

Bitcoin UP! Out of bear channel! Now what?BIP 91 looks to be locked-in now. As hypothesized in my last post, this has given us enough boost to push our way through some MAJOR resistance points. Bitcoin's behavior here is extremely bullish! At the time of this writing, BTC is currently wrestling with resistance at $2599. Once through, it's on up to $2670 or the bottom of our bullish GREEN channel, whichever comes first. Once we get there, I am not sure how much energy the bulls will still have. If we do end up getting to the bottom of the bullish GREEN channel today, I don't think the market will be able to power through. My analysis today is that we either tap out at $2600 or somewhere around $2670. Tomorrow is another day but I don't see us breaking back into our bullish GREEN channel today. And, if you are a day trader (which I am NOT), these are excellent areas to short back down to the 50 MA or even possibly the $2420 support. Happy trading folks!
BITSTAMP:BTCUSDLong
by stewdamus
13
Litecoin continues to hold $45 and probably will continue holdNot surprisingly, Litecoin (LTCUSD) is holding it's $45 support today. While it is possible that it could go lower, my suspicion is that it won't. Instead, while Bitcoin (BTCUSD) continues to unravel until our Aug. 1 target date, I suspect Litecoin (LTCUSD) will bounce around in here between the $45 support and $50 support until our middle Bollinger Band or 20 MA comes up a bit to give us a boost. Once this happens, it may provide just enough steam to propel us back over $50 which is now currently acting as resistance. Then onto $60-$75 for Litecoin! Happy Trading friends!
COINBASE:LTCUSDLong
by stewdamus