Market report on all things crypto - BTC should pass $3k in a couple days - SegWait Over - LTC to $52
BTC seems to be gaining some bull strength again. These few days will show us either further conviction on the breakout at 3k or weakness.
Ideally it should reach point d on my chart which is also the fibonacci extention of the previous wave before a pullback into a higher region.
This analysis is still valid from 2 days ago HERE
Zoom in image HERE
Extra forecast on LTC
Is the bull run on LTC over?
My analysis shows that it should have 1 more wave up into the $52 region before a 3 wave(minimum) corrective comes.
Also LTC formed a higher high from the breakout of quite a mid-term consolidation. As you can see it is a symmetrical triangle breakout. The way triangle patterns are trade is by adding the hight of the triangle to the breakout of the triangle, that will make a suitable region for take profit.
If you haven't known by now, I like fibonacci(numbers of nature), the 1.618 region coincides with the triangle pattern take profit. That region of $52 marks a very important resistance zone.
Zoom in HERE
NEWS UPDATE
India to develop crytocurrency rules
The future of Ads- blockchain ad platform
SegWait is over, majority support for SegWit2x
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Excellent - thanks for posting. I picked up some LTC on the pullback as a trade back up to 52 by my own analysis, nice to see I'm not alone. Can you go a bit into why you see a three wave retracement after revisiting the highs? And why not a breakout beyond 52? It'd be helpful for us to learn the reasoning behind the forecast.
Hope you had a great trip! I look forward to reading your analyses :)
PS - try using the crypto-news tag, you might get more traction with it
So exciting! I'm locked and loaded! Bought a ton of coins over this past weekend.
Wow good on you! Racking in the profits soon!
I could be. The upcomming weeks will be exiting. Expect a lot more volatilty that comes into play with the newsflow.
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