As we head into the weekend, have a gut feeling that we'll see some nice gains on Friday. Earlier in the week, discussed pivot point when we were in the middle of the downtrend channel (Pink Lines). It ended up retracing near the bottom around 150 mark. Today, we are sitting around 161, and on Monday 8 am (Black Vertical Line)EST the US market took over in the 182 range and drove the price down throughout the week.
Expect Wall Street, Chicago, and whales will try to buy up the lower cost coins today to take advantage of the favorable pricing. On the 1 hr, we're sitting at the end point of a triangle, and just have a gut feeling we'll see a bounce. How high? Who knows.
Also had some good news over the past day. Lightning Network news came out on Thursday. This should bode well for Litecoin and Bitcoin. Additionally, ARBA announced the creation of a new smart contract platform, and they will be using Litecoin and Bitcoin on their platform.
Well, there you have it. Before I could type this idea, price shot up from 161 to 167. Hopefully this is an Elliot Wave run to the top of the channel. Good luck trading to all. As always, this is only an opinion and not considered to be investment advice. Trade at your own risk.
Expect Wall Street, Chicago, and whales will try to buy up the lower cost coins today to take advantage of the favorable pricing. On the 1 hr, we're sitting at the end point of a triangle, and just have a gut feeling we'll see a bounce. How high? Who knows.
Also had some good news over the past day. Lightning Network news came out on Thursday. This should bode well for Litecoin and Bitcoin. Additionally, ARBA announced the creation of a new smart contract platform, and they will be using Litecoin and Bitcoin on their platform.
Well, there you have it. Before I could type this idea, price shot up from 161 to 167. Hopefully this is an Elliot Wave run to the top of the channel. Good luck trading to all. As always, this is only an opinion and not considered to be investment advice. Trade at your own risk.
Comment:
Currently on the upswing. There is a resistance line around 177 that goes back to ATH run in December. Watch closely here in case we see a reversal. FWIW, Top of the channel is near 187...then it's a Looonnnng way to the next Fib line at 219.