Horizontal Support is evident as price rejections from this level is almost certain
I have placed a bars pattern which shows a further downside below this line but ultimately results in an inverted H&S pattern and a recovery above the line
Long term analysis
Daily timeframe
On this chart it can be seen that price is peaking as it moves through the Fib circle levels
First at 1.618, next 2.618 and now it is approaching 3.618 and looking for another move up
I have seen this pattern within the fib circle a lot lately
Buy for the next move up within 3.618
LBC has proven its affection for 0.618
bouncing three times of the fib level
Some trend lines can be drawn between the wicks and a wedge can be generated
Likely will break upward after a breakout of this formation
Analysis to follow the intraday price or take advantage of scalpings.
The next resistance in the short term that LBC wants to retest and break is $ 0.125 to $ 0.137, if it does so strongly and manages to go above $ 0.16, it will most likely find its second strong resistance at 0.2 $.
However, this analysis is valid in the short term (1 hour), if the price never...
If bitcoin manages to stay stable between 30k to 35k for weeks, we can see bullish outlook in LBC towards the next highs already reached before, such as:
Tp1: $ 0.10;
Tp2: $ 0.135
Tp3: $ 0.15
However, Lbc can also consolidate its price between $ 0.064 to $ 0.09 and it's still great.
Hitting resistance but will probably push through. The platform is amazing. Market cap is way undervalued based on fundamentals. Accumulate while it's low and thank me later.
The tech is good, volume is huge, get ready for a push up! If you haven't used it yet, go check out odysee.com video sharing platform with built in token (LBC).
This is the LBRY crypto token LBC that it forming small cup and handle. The over all trend is good, found solid support and looks like it will be going up.
