thecoinweaver
Long

LBC almost at a crossroads - Break out to the upside?

POLONIEX:LBCBTC   LBRY Credits / Bitcoin

LBRY's native token has been in decline ever since it hit it's all time highs this time last year, since then we've seen it slowly drop back down close to it's all time low back at the beginning of 2017.

Fundamentally the token is sound, the project is one of the few innovative projects in the crypto space and the software is improving all the time. With this in mind the LBRY credits are in my opinion currently highly undervalued and the RSI adds weight to to this opinion.

But aside from the fundamentals as you can see we have been in a downward trend for a year now in a large descending triangle which is about to bottom out. The next 24 - 48 hours are critical, if it breaks below 0.000015 BTC expect a collapse down to the 0.0000135 BTC region, however if it can reach up above 0.000018 BTC and hold for at least 12 hours it should lead to further gains as a new trend to the upside is established.

Of course with all eyes on Bitcoin at this point any sudden large drop in the king of Cryptos can often drag all the other markets down with it, but even harder!

I'll check back in 48 hours to see where we are with this, in the meantime if your not familiar with this project head over to https://lbry.io/

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