Moon_Rocket_Capital

Moon_Rocket_Capital

PRICE ACTION Despite all the volatility in recent days; there has been no volatility... Starting with the 4h chart, we can see that we are largely where we started 4 weeks ago; with the vast majority of the action happening within ±400 of the $10,200 price point; and all action happening within ±800. In a historically volatile market; this is just mild chop. As...

Moon_Rocket_Capital Updated 

PRICE ACTION Let’s strip back all the indicators and take a 30,000 feet look at the technicals for Litecoin. Firstly, and not visible on the charts is the reduction in mining hashrate since the halving of the block reward. Reduction in mining – essentially – recalibrates the efficiency of mining for all active miners and makes mining more profitable per power...

Moon_Rocket_Capital Updated 

PRICE ACTION Last week’s 1W candle came down to test the bottom of the rising channel; as was bought up through the late part of the week and delivered a strong close and a dragonfly doji. Looking at RSI; it has also stepped back to the 50.0 RSI line – representing neutral strength in market. With the 52W MA just below @ $200; this seems like a good place for...

Moon_Rocket_Capital Updated 

PRICE ACTION Is the 1W parabola finally capitulating? Or will the short-term timeframes give bulls confidence for another rally? The 5m chart has seen a sharp cliff edge movement down, with the majority of RSI action over the last 30 hours being on the lower half of the range. Volume is slowing though, with the current burst of action being significantly lower...

Moon_Rocket_Capital Updated 

PRICE ACTION As prices explode into the green on almost every coin imaginable; frustration must be raging inside holders of Litecoin – which is back to almost that same place it was 2 weeks ago. Litecoin must be dying – it’s the only valid explanation... Somehow, amazingly, LTC is about the only thing acting rationally right now – and is looking primed for...

Moon_Rocket_Capital

PRICE ACTION The 5m chart showed a strong cross of the 50.0 RSI marker; as price bounced well from a test of the low 260 region as support. There appears to be some overhead resistance, however 275 is clearly the next key area to watch. 4H charts also confirm the importance of 275; with price currently trying to eat through the resistance. Volume is...

Moon_Rocket_Capital Updated 

PRICE ACTION It’s show time for the bulls. The 5m chart has been filling higher lows for the last 5 days; and RSI is now moving to spending most of its time above the 50.0 line. There has been a step up above the trend line though; so true support may still be back around $8600. RSI is currently cooling from an overbought position – which isn’t great for trying...

Moon_Rocket_Capital Updated 

PRICE ACTION Just as everyone starts to talk relentlessly about LTC; contrarian alarm bells everywhere should be sounding off. Is this the end of the LTC run? Almost certainly not – but green candles don’t last forever; and pullbacks are healthy in organic markets. The 4H chart is now touching the top of a nice parallel channel; and the short/sharp price action...

Moon_Rocket_Capital

PRICE ACTION The major charts continue to follow the pattern that LTCUSD cut through back in March/April – with ETHUSD coming back on a retrace of the 52W moving average. After a strong break through the 52W on the weekly chart; there have been 2 long wick/short body candles that have shown how uncertain the market currently is. This week is showing the full...

Moon_Rocket_Capital

PRICE ACTION The 5m chart shows that resistance in building around $8000; however perhaps importantly; the bulls have been able to create a higher low – though it is marginally impressive to say the least. The 1W chart is finally showing the breakdown of the parabola that pushed the RSI to its highest point of the last 12 months; and with last week closing as an...

Moon_Rocket_Capital Updated 

PRICE ACTION The 5m chart shows a striking pattern that is not usual on a lower timeframe in such a clean setup; with a head and shoulders – complete with declining volume through the head and expanding volume in the right shoulder. Being bearish on a small timeframe, the retracement is naturally reduced so brings us nicely down to the bottom of the rising...

Moon_Rocket_Capital Updated 

PRICE ACTION Let’s start with a throwback to the analysis posted 9th May: “ A break of $200 will likely set up a rally through to the 52W MA @ $250 ” After breaking through the $200 resistance, price settled and consolidated for about a day before rocketing upward (currently up 17.5%) – playing exceptionally well to the plan. But will it maintain? The 5m chart...

Moon_Rocket_Capital Updated 

PRICE ACTION The 5m chart has been showing some volatility between 166-170; with a short burst up to 172 getting rejected quickly. Volume has been reducing. The 4H chart continues within the broadening wedge pattern and is roughly in the middle now. As previously discussed, volume is reducing – with is a sign of slowing sentiments here. Bulls will want to see...

Moon_Rocket_Capital Updated 

PRICE ACTION Starting with the 1W chart, we have seen successful break of the important 52W Moving Average followed by an incredible parabola move up through the $7000 and $8000 thresholds. The weekly close was the highest point since October 2018; which is a very strong indication that the bear market is over. As we are currently seeing though, retail sentiment...

Moon_Rocket_Capital

PRICE ACTION LTC is still struggling to fire on all cylinders, with price currently stalling out around $90 on the 1D chart. Overall there are a number of bullish indicators setting up which suggest a further move up could be on the way... Starting on the 5m chart; we can see a falling wedge formation. When compared to the RSI, we see that the lows are moving...

Moon_Rocket_Capital Updated 

PRICE ACTION Less than 24 hours after the hack of $40M USD; and active discussion from one of the largest exchanges on whether rolling back the blockchain would be a good idea…and now the price has broken above $6000. Some days, Technical analysis simply does not matter. Today is one of those. The 4H chart is currently overbought @ 70.0; though volume is...

Moon_Rocket_Capital

SUMMARY - Tether admits that 30% of their reserves are inaccessible: price moves < 10% - Binance gets hacked for $40M USD: price moves ~5% FOMO IS A HELL OF A DRUG There are real, genuine, alarms going off all over the place right now. If you are reading this; hopefully you are – at least, trying to – avoiding speculation & FOMO trading. $6000 is a hugely...

Moon_Rocket_Capital

PRICE ACTION The 5m chart shows a nice price action of the sentiment shift from bullish to bearish; with the action leading into 7-May showing higher highs/lows; followed by about 30 hours of consistent lower highs/lows. Volume on each more up/down has been catalysed by spikes in volume; with the following periods being low volume consolidation. Nothing organic...