Before we start, let's have a look at our previous analysis LTC friends. And BTW: If you like that I'm posting the previous analysis to hold myself accountable: Give this post a like.
=> We can see nice follow-through on the smaller H&S pattern giving up to 10% profit, but not reaching the previous bottom. The move turned into more of a Downward Channel and saw a breakout, reaching the previous neckline:
On the Daily, we're currently trying to make $90 to higher Lows. If the bulls see follow-through here, they will have to break the potential neckline of the bigger & complex previous inverse H&S pattern, which comes in around $100:
So compared to grandpa Bitcoin, we have actually broken out from the support, and we can perfectly see the strength in the direct correlation, where the bulls have successfully defended the bottom and are currently trying to regain 10k Satoshi again:
If you had some value from my analysis, give it a thumbs-up & comment it, because the mechanism shows my analysis to other people then. Make also sure to follow me so you get notified on my Crypto Analyses! I wish you a good trading! :)
Edgy is providing online mentorship & trading metrics only. We are not a financial advisor, nor do we hold any formal qualifications in this area. You're trading at your own risk. No matter what you do, please set your stop loss. Please be aware, that you can lose all your money on the online exchanges.
=> We can see nice follow-through on the smaller H&S pattern giving up to 10% profit, but not reaching the previous bottom. The move turned into more of a Downward Channel and saw a breakout, reaching the previous neckline:
On the Daily, we're currently trying to make $90 to higher Lows. If the bulls see follow-through here, they will have to break the potential neckline of the bigger & complex previous inverse H&S pattern, which comes in around $100:
So compared to grandpa Bitcoin, we have actually broken out from the support, and we can perfectly see the strength in the direct correlation, where the bulls have successfully defended the bottom and are currently trying to regain 10k Satoshi again:
If you had some value from my analysis, give it a thumbs-up & comment it, because the mechanism shows my analysis to other people then. Make also sure to follow me so you get notified on my Crypto Analyses! I wish you a good trading! :)
Edgy is providing online mentorship & trading metrics only. We are not a financial advisor, nor do we hold any formal qualifications in this area. You're trading at your own risk. No matter what you do, please set your stop loss. Please be aware, that you can lose all your money on the online exchanges.
