The price bounced from 64.00 support level. RSI confirmed price reversal. MACD supports upward movement. Moving Averages move in different directions and it tells us about range market conditions. ADX line of DMI indicator falls and confirms that the market consolidates. Based on the previous highs and lows we can draw a triangle chart pattern. Triangle can be a continuation chart pattern. For this the market will have to break the resistance line of the triangle. We can place pending orders for buy above this resistance line. Also it's a possible to place pending orders for buy above the previous high, it's 72.00 level. If you want to continue building long positions, the current levels are good for buying for long term. Stop orders must be placed below 61.50 level. The main profit target is 90.00 level.
YOUR WRONG ONCE AGAIN. ITS AT $57 AND DROPPING LIKE EVERYONES BANK ACCOUNTS!
All absurd. Told you yesterday everyone trying to read charts are thinking this is the stock market. ITS FAKE MONEY!
Hold your money in cash. everything is going down until there is some positive news regarding the entire industry.
BTC $2900 ETH $205-220 LTC $48 OUCH!
MajklDaky
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LTC seems to be copying bitcoin development. As expectation is bitcoin will fall bellow 3000 EUR soon, dont you think LTC will drop in price as well?
acivi_nik
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as soon as i started looking into your predictions, i started loosing huge amounts of money...
take a break from this
k1ngju
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@acivi_nik, Dude his analysis is accurate, we didn't break the triangle resistance (yet?) , we never hit 72, which is when he advises going long.
sebastian.soik
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@acivi_nik, There is no prediction at all in his analysis. It's completely technical and correct.
I think your mistake is to place "Limit" orders. If the price spikes up beyond resistance it triggers your order and you buy in.
You should use "Stop" orders instead. This way you wait until there is a closing above this level and this is what you're waiting for.
PatrickBoutin
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@Sebastian.soik, can u elaborate on what u mean by "wait until there is a closing above this level"? Specifically what the work CLOSING means? It's not like the stock market that closes at 4pm eastern time this goes on constantly so what constitutes a closing? Thanks a lot in advance!
sebastian.soik
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@PatrickBoutin, 'closing' is the last value at the end of a single timeframe.
The problem appears for example, if there is a large market buy-in. This way someone buys many assets from the visible order book. If this happens the price triggers the Limit Order for just a very short time. But the order book is filled up immidiately with lower prices (reversal) so the price does not stay high.
You can see this by looking at the 'wick', the little stripe underneath or on top of a candle. Very long wicks in the 1M chart often lead to a price movement.
As the bitcoin reaches the local maximum I would push the buy level a bit higher, as it is possible that bitcoin will bounce from the resistance level too. I am not arguing, just telling that my entry will be at 72.6-73.0
jbotos
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Thank you @DLavrov for your update, I completely agree. We have to see a break of the resistance line for near term bullishness. I'm currently holding a position at 72 and have additional funds to make an additional buy. Hope we see a upward break!
All absurd. Told you yesterday everyone trying to read charts are thinking this is the stock market. ITS FAKE MONEY!
Hold your money in cash. everything is going down until there is some positive news regarding the entire industry.
BTC $2900 ETH $205-220 LTC $48 OUCH!