Re-entry long LTC was along the $41.77 support line, noticed that price wicked down to $39.25 to a T and held it respectively.
Now price is bouncing back above this 3-year long uptrend , which is drawn from the start of the 2017 bull trend and has been validated over time.
Super bullish wick off that trend, doji candle but I wouldn’t be surprised if there was...
THIS IS AN UPDATE TO MY PREVIOUS TA'S. AS WE CAN SEE INDICATED IN THE RSI, SILVER GOES THROUGH 32 DAY CONSOLIDATE/GROW PHASES. AS WELL, SILVER HAS BEEN REMARKABLY CORRELATED TO MOON PHASES. USING THIS AS A CATALYST, THE NEXT MOON PHASE IS AUGUST 18TH, FOLLOWING ANOTHER SEPTEMBER 2ND. I BELIEVE THAT SILVER WILL BOTTOM AROUND THE INDICATED WEDGE OVER THE NEXT COUPLE...
BTCUSD HAS BROKEN OUT OF THE TOP OF ITS 28 DAY CONSOLIDATION AND HIT ITS FIRST RESISTANCE LEVEL AT $389.97. **LEVELS FROM BTCE:BTCUSD**
HERE IS A LIKELY PRICE SCENARIO FOR THE NEXT 3 WEEKS:
1. PRICE FINISHES CONSOLIDATION AT FIRST LEVEL AND BREAKS UP TO 400.84
2. CONSOLIDATES QUICKLY BETWEEN $389.97-400.00 AND MOVES INTO $420.00-430.00 RANGE
3. FALLS DOWN TO 400...
THE CLASSIC PSYCHOLOGY OF A MARKET CYCLE.
WE SEE THESE EMOTIONS THROUGH RETAIL
INVESTORS WORLDWIDE. MAKE SURE YOU
HAVE 20/20 HINDSIGHT ON GOLD BEFORE YOU
GET CAUGHT IN THE HERD.
REMEMBER, NO BIAS.
@YUNGFINANCE
ALL CURRENCY PAIRS IN WHICH THE USD IS THE
DENOMINATOR HAVE BEEN FOLLOWING A SIMILAR
ARC SHAPE SINCE THE 2009 RECESSION.
AS WE CAN SEE HERE, JPYUSD, CADUSD HAVE REACHED
THEIR PREVIOUS SUPPORT AREAS. ONE CURRENCY
PAIR THAT HASNT REACHED ITS PREVIOUS LOW
IS THE AUDUSD. ALL MARKETS WORK TOGETHER,
THEREFORE I BELIEVE THIS PAIR IS LAGGING
COMPARED TO IS RELATIVES....
AUDUSD HAS BEEN FORMING A MONTH-LONG WEDGE, AS WELL AS A DOWNWARD PITCHFORK. AUDUSD IS ABOUT TO INTERACT WITH THE BOTTOM SUPPORT OF THE WEDGE, BOTTOM SUPPORT OF THE PITCHFORK, AS WELL AS HITTING A FIB LINE. IF BOUNCES, LONG, IF BREAKS ALL THREE SUPPORTS, MAJOR WEAKNESS SIGN.
CREDIT TO: ICETRADING FOR THE ORIGINAL PITCHFORK CONCEPT.
