Here's a testing indicator using MIDAS on pivots and Fractal Deviation Band's with Fibonacci (PHI) Multiplier.
Some strong reasons to believe that we are already done here and it is not going to rally further. Yesterday's attempted rally at 2463 range had a huge second potential for Bitcoin to test the highs yet it is algorithmic smacked down hard by certain individuals on both Huobi and Okcoin. A possible bounce will unlikely to break the now resistance already. I'm...
Two monthly MIDAS resistance lines turned into support. They converged on the right hand side of the chart. Support rests on 1.2250.
17:25 GMT update. Everything goes as expected so far. IMO, S2 is broken and cant support prices anymore. R2 is pushing price nicely down. EU is going DOWN. On the left side in close proximity, there is not any anchoring point which can give support for the faling prices. We need to go far far back left to find a support MIDAS line below these price levels. But it...
EU respected MIDAS channel started back from 1999 multiple times. It will probably want to reach that band again. Target at least 1.24
Last MIDAS channel was anchored from the wrong bar in the indicator page so this is the one with correct anchoring. Basically MIDAS channels are now acting as resistance. Latest MIDAS channel is chasing down the price.When price comes back to channel wait for a bearish confirmation signal then go short.
First reliable breakout signal off the downtrend after the long 7 months bear market for Litecoin. (Correction from 48 USD -> 3.3 USD. 14x decrease in price) We also have a double bottom made on 22.10 CNY (3.3 USD). This is an extremely good risk/reward place to be taking position on Litecoin with stops at 21.69 CNY.