LTC has been bouncing in rectangle after decline. Risk/reward is attractive, with limited downside.
The eternal $BTC optimist in me keeps re-drawing diagonals 😅
Looking at multiple diagonals, this could be a really good play if BTC breaks out of the lower triangle.
Not sure if this is a parabola, but I found it interesting.
Let's see how SPX responds to these support levels. I'm not confident the upper support holds due to RSI divergence. This is a refined chart from my first call (which nailed upper support level)
Let's hope BTC holds one of these two trendlines. The RSI doesn't look good.
Bitcoin high vantage point - diagonals
CRONOS appears to be flattening out, holding long term support. Something to keep an eye on.
XLM has been holding support in bottom rounding pattern. Aggressive traders can open a long position with a 8.8c target and 5.2c stop loss.
Watch XLM for potential breakout
Diagonals and moving averages tell Bitcoins story. SMAs are fibonacci levels. If the top support lines don't hold, it appears the bottom support lines will either hold or be a good opportunity to buy. Currently neutral here and awaiting playout.
Testing a couple support levels
There appears to be a very clear rounding pattern for me on XLM. Looking for fib retracement levels aligning with rounding bottom pattern. Outlook short-term is bearish, long-term could be bullish if XLM responds appropriately to support on rounding bottom.
The diagonals and very long moving average all pointing at a long-haul $160 price. May be good opportunities to buy below that level.
XRP is trending bearish. Awaiting test of 26.7 diagonal support, if this doesn't hold look for levels of 23.4.
The trend is undecided at the moment in my opinion. Pointed out possible levels of support.
Bitcoin couldn't hang onto the lower diagonal support level, and the trend seems to be switching bearish. I can't forecast support levels yet until more data presents itself.