BTC trading daily thoughts - Breakout confirmed, target 12500.
BTC finally broke out last night from a downtrend going back to January 6th...
And a coinciding noticeable upswing in volume across the market (38.5%) is a nice confirmation...
The next target I'm looking at for resistance and a possible sell is currently around the 12500 level on the downward trendline going back to December 17th.
There could be some resistance at 10k for psychological reasons, or resistance at the 50-day SMA sitting around 11,750 right now. If a bearish scenario occurs and we close a 4H candle below 9500 I'll be looking to 9000, and then 7800 for support.
It's an easy day for me since in my opinion the breakout is confirmed. And there's plenty of distance to travel before my next target, so it might take some time. Just going to join the hodl pack for now; keeping an eye on the charts and news. Currently holding mostly ETH, EOS, NEO, ADA and IOTA.
I sadly wasn't in LTC for today's pump. And I won't jump in now to chase it (that's what I keep telling myself). But it was a great day if you own LTC.
What're your thoughts on the market today?
Anyone have any theories on coins to buy? Is there anything you think might outpace BTC gains on this recovery?
Anyone have any opposing analysis or upcoming resistance levels they're expecting below 12500?
Is it too late to buy LTC? Is the fork even real?
Very interested to hear strategies or opinions anyone's willing to share. It is Valentine's Day after all... and we all love money!
@leeforder I have been judging by the old historicals 100, 155, 200 for btc anyways, line of bottom resistance held true broke 155 well into bottom of the buy zone for me I still think we are well within fair value at 12k now so 12.5k would be a nice gain on this move but it will react like a suckers rally I believe. Sorry crappy chart on phone.!
It still shows largely on the bullish side since bottoming out
I'm encouraged that SBD is finally on the upward swing. Although I expected it'd have done so faster than it's doing currently but I think it's only a matter of time it'll bounce back. The panic is over. Thanks.
to your question if it's too late to buy ltc ... I'll give you my opinion: I do not think so. If you follow the cliff cliff he has very good expectations with ltc, and that man is quite successful, although always in my opinion, it gives him too many good expectations, but I think litecoin has not shown us his full potential and that in the next few days he could give us many surprises, also, being realistic, as a direct payment method for platforms like amazon is the most acceptable option ... so (always from my humble opinion) it's not too late to buy ltc
imagine the hype and media coverage after it passes 10k !!! it will break all the resistance lines maybe all the way up to 15k.
we just need to pass 10k now
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