Are you wondering why we reached the 12K level and fall 1500 usd to the 10.5K usd level in just one hour?
Well, there are at least 3 very logical reasons for that:
1) If you hvae been watching the order book trades in the spot market, in Binance for example, for the past 2-3 days, one could see a big sell wall of 6 million usd at the 12K usd price level.
Let´s see if we can make this post viral and help people make money during these hard times.
Even my granny could do this:
STEP 1: Take the amount you want to invest and place it in your crypto exchange (Binance or Kraken work well for me). For this explanation I am going to use a 10,000 usd investment.
STEP 2: Always always always use spot market trading. Do...
This is my secret to call out bottoms in the market:
Use Supertrend indicator on btcusd weekly chart. We are precisely at the perfect moment to focus on a long term strategy as we are right now in the bottom of the next bull run.
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We have a descending broadening wedge forming since mid 2019, after the 2019 peak, and we have just broken out of it.
This is a bullish reversal pattern.
The break in the resistance line definitively validates the pattern.
The price objective is determined by the highest point at which the descending broadening wedge was formed.
Often, the steeper the descending...
We have just filled the 11700 usd gap formed in August 2020. However, the 3600 usd gap to the downside is still unfilled and last week a new gap was formed at around 9600 usd level.
We should keep track of them.
Another bullish sign is this big descending broadening wedge.
My only concern is that we have a CME Gap at around 3561 Usd level. This is why I think we might see a dump in the mid-term to test the downside line for the last time and close that gap. If this happens, you’d better have your buy orders ready.
There are two CME gaps. One of them to the downside (around 3561 usd level) and the other one to the upside (around 11700 usd level).
3561 usd gap was created between the 15th and the 19th of February 2019.
11700 usd gap was created between the 9th and the 12th of August 2019.
It seems there is a big rising wedge forming since nov 2019 which might take as back to ATH by the end of 2020.
Note that these kind of patterns can be both continuation or reversal patterns. We need one or two more touches on the upper line and we’ll see if it pumps or dumps.
September 2020 seems to be when we’ll know the result.
Any thoughts on this¿
Today the second shoulder reached the bottom objective at the LTC/USD chart for a potential inverse H&S pattern (which has been a bullish sign previously). If we see the completion of that second shoulder, we could expect a price target of around 136 usd, where we'll find some resistance as seen in June 2019.
I've been watching closely LTC/USD these last months...