LOOMUSDT is now bullish. Almost 100% profit expectationLOOM is strong bullish as triangle breakup. The RSI is very good for the next days/weeks/Month. We can buy this coin and aim for almost 100% profits at target 1. I will make an update when it move to target 2.
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Good luck
LOOMUSD trade ideas
Head and Shoulders Possibly FormingI'm a simple guy with simple graphs. This looks like an inverse head and shoulders pattern playing out pretty well. There is no guarantee obviously, we will have to wait and see further on when it moves further along, but it's worth looking at anyways. As with all head and shoulders patterns, we look for a breakout point by large volume, which looks to happen early January of next year. We can see the volume picking up heavily currently, more so in fact than any volume that we have ever seen before. This is a very good sign. If this is truly an inverse H&S pattern, we can expect a local high at around $0.085 near June of this year, followed by a pullback to $0.04 or so, and then again breaking out near January of next year when it hits $0.085 again. After that it's off to the races!
As far as the tech goes, it looks like the dev team is planning on integrating Bitcoin's chain soon, which should bring the price up quite nicely. Also, if you haven't looked at their latest validators and developers building on the network, definitely worth a look. I believe this has graduated from just a project to an actual working technology at this point. I only see the price going up and up from here. It doesn't look like it's slowing down, in fact the technology is growing faster than even I would have actually believed when I first took notice of this project.
Cheers.
Breakout of a 6 month descending channelIt appears as though after 6 months in this falling channel that we have found some relief. Might be a little early to tell, but there have been good indicators over the last few days. Note that in the last two months we have had the highest volume of 2019. Further, note the last three days have broken above the upper trend line and have been testing that line for support the last 12 hours or so, which it appears we have support. The MACD and the MA's aren't giving any big buy or sell indicators, but I believe now is a good time to buy in, especially with the price so low and the potential very high. I would also like to point out from June until now we have been forming the left half of a parabola very nicely. This could indicate that the price at the end of this parabola in roughly June of 2020 will be the same place as the price in June of this year. If that is true, and we are in fact beginning a new upward trajectory having just broken out of the falling channel, we could see gains of approximately 4x our current price by next June. I have set up buys at at lower levels, though I don't imagine we will see much lower than this (though I have been wrong before) and set up sells based on a percentage of my holdings up through the end of what I suspect is a parabola. It is still a good idea to HODL most of LOOM, as this is in my opinion a very promising long term asset, especially given the L2 solutions that are being rolled out next year as well as the amount of LOOM currently staked.
LOOM - EX - EntryRe-tracement into box, where there is a sharp volume node, where we have rejected off before, where red line is. we are also topping on and fisher. entry must keep in line with the higher low pattern in the bog. that trendline must hold otherwise the bull divergence from the cycle previous will have ended.
