Happy New Year everybody!
In previous ideas I claimed that a major dump will happen right after New year. However the RSI santa wants to be kind to bulls and give them relief for the first week of January. The RSI is getting overextended and like a rubber band will snap back. The snap back will reset the technicals initiating a another major dump.
The pattern of bear flags and dumps has repeated consistently since June 2019. we have had 5 bear flags and 6 dumps since 2019 ATH.
Currently we are in the sixth bear flag.One more small drop to the bottom of the current bear flag and probably the price will bounce up to the bear flag resistance at $45.4 approximately. A dump will happen most probably since the pattern of touching the 6H 200ema and dumping has repeated 4 times already and the 6H 200 ema will touch the top the current bear flag and meet with the price.
The measured move for the current bear flag is around $31 consistent with other bear flag measured moves and targets from my previous ideas. The measured moves of the bear flags have been accurate in locating local bottoms.
In is interesting to notice that at $31 the price will probably meet the weekly 2 standard deviation bollinger band (in teal). In the previous bottom at $22 in early 2019, the price bounced of the weekly 2a bollinger band.
$31 could be the real bottom LTC, for real this time ))).
BTC and the majority of Alts will most probably follow the path of LTC as it was in past.
Wish you a profitable 2020!!
In previous ideas I claimed that a major dump will happen right after New year. However the RSI santa wants to be kind to bulls and give them relief for the first week of January. The RSI is getting overextended and like a rubber band will snap back. The snap back will reset the technicals initiating a another major dump.
The pattern of bear flags and dumps has repeated consistently since June 2019. we have had 5 bear flags and 6 dumps since 2019 ATH.
Currently we are in the sixth bear flag.One more small drop to the bottom of the current bear flag and probably the price will bounce up to the bear flag resistance at $45.4 approximately. A dump will happen most probably since the pattern of touching the 6H 200ema and dumping has repeated 4 times already and the 6H 200 ema will touch the top the current bear flag and meet with the price.
The measured move for the current bear flag is around $31 consistent with other bear flag measured moves and targets from my previous ideas. The measured moves of the bear flags have been accurate in locating local bottoms.
In is interesting to notice that at $31 the price will probably meet the weekly 2 standard deviation bollinger band (in teal). In the previous bottom at $22 in early 2019, the price bounced of the weekly 2a bollinger band.
$31 could be the real bottom LTC, for real this time ))).
BTC and the majority of Alts will most probably follow the path of LTC as it was in past.
Wish you a profitable 2020!!
