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Bitcoin: Time for a bounce?If we break the local downtrend line, it is possible Bitcoin could go high enough to try the resistance at around $54k. Do you think it'll happen? Let me know in the comments! :) Coin Metrics: The most recent price of BTC at the time of writing is: $36294.25. The 200 Simple Moving Average (SMA) is at: $40353.3. The percentage distance from the latest BTC price and the 200 SMA is: -10.0%. A coin which has a price less than its 200 SMA is less costly on average than at any other time, and so this might be a good time to buy. Beware though that this may also be a part of a bearish trend, where the price might drop even further. Average Candle Height (ACH) for BTC: 5.7%. Average Candle Height is calculated as the average height of all candles (high - low) as a percentage of the high price. Bitcoin typically has about 5% ACH, while large market cap coins like Litecoin have around 8% ACH. Exceptionally volatile coins like XVS can have 15% ACH or more. --------------- Happy trading, folks! Please like and follow if you'd like to see more of my content :)
BITSTAMP:BTCUSDLong
by Evermore
2
[LITUSDT] 3000% potential long term?!Hi all, Today I'd like to offer a different view with a comparison of two charts. I find it interesting to compare both Venus (XVS) and Litentry (LIT) after their listing on Binance. In my opinion, they formed the same pennant triangle with both a nice W pattern inside on daily timeframes. Both ranged after their Binance listing for several months and as you can see Venus exploded. Will LIT follow the same path? Realistic targets would bring us on LIT at $18 (where it was $9 for XVS back then). Now, as you can see on Venus, it went up to $130 to this day, which would mean LIT with a similar parabolic movement could easily reach $40-100 prices. Current marketcap for LIT: 170M (so atleast potential *9 to reach XVS's marketcap) Circulation supply for LIT: 18.3m Current marketcap for XVS: 1.3B Circulation supply for XVS: 9.7m Even though both projects are not direct concurrents, they're both great projects with good improvements for the DeFi ecosystem. Fundamentals are good for both. Litentry (LIT) remains a new project nevertheless and is still at the beginning. This is absolutely not an investment advice, DYOR. Keep an eye on LIT as if it follows XVS's breakout we will see a massive growth from its current ATH, around $18. There are a lot of "if" for this scenario to happen, but with a massive alt rally expected by many in the next couple of weeks, it could become reaLITy. Good luck everyone! :)
Long
by cryptologyy
4