BTC/USD Analysis

Still within the larger term downtrending channel (blue). On the shorter term, were seeing a clear consolidation form a triangle pattern. This sym triangle has a 50/50 chance of breaking up or down. Overall, I’m leaning a bit bearish but I have buys set above the resistance incase of a bull break. Measured move of the bearish break would result in price meeting the 0.78 fib zone + channel support + bear range equilibrium to complete W5 of the larger degree C wave. There is a lot of confluence within this range.

_{https://www.tradingview.com}

If you take a look at the full trading range from high to low we can see it is split into a few different channels that have great examples of S/R flips. Starting with the equilibrium we can see the price bouncing off the $3800 level multiple times before breaking through it. Once it broke through we have been stuck below it and successfully retested it as resistance.

LTC/USD Analysis

Same kind of setup on the shorter term for Litecoin. A clear consolidation forming a triangle pattern. On the chart below, I have noted the potential measured move’s below depending on the break; bull or bear targets.

Also, I have included the short term trading range. A break above the equilibrium + triangle resistance would signal a long trade. A break below the range low would signal a short trade.

_{https://www.tradingview.com}

---

***I also shared this article on TRYBE***

---

This is not financial advice. I don’t take into account of your personal investment objectives, specific investment goals, specific needs or financial situation and makes no representation and assumes no liability to the accuracy or completeness of the information provided here. The information and publications are not intended to be and do not constitute financial advice, investment advice, trading advice or any other advice or recommendation. Any expression of opinion (which may be subject to change without notice) is personal to the author and the author makes no guarantee of any sort regarding accuracy or completeness of any information or analysis supplied.

---