Watchlist Update 26 | BTC, LTC, NEO | Double Bottom breakout
Hi everyone, here’s another late overview of what I’m looking at on the charts. Person the exhaustion, I’m still getting used to these night shifts.
BTC-USD Coinbase | BTC continues to find equilibrium and is finding trouble breaking above 9700, but if the RSI cools off on most timeframes then we can see a climb to around 10100 where I expect a new equilibrium pattern to form, then it may push above that and find less resistance upward to 10450 (as per my fractal-Ichimoku system, whatever you may call it).
LTC-USD Coinbase | LTC is still correlating with BTC, it did not see a double top like BTC but rather a larger higher low and lower high, a healthy equilibrium setup for the bulls. For context I’ve added a photo of the 15minute, where you can see how it’s attempted to break above the ascending triangle. In the video I grappled with whether I’m neutral at this point. I’d say watch for a bull break of the triangle, then of the fractal at 193, and finally the uppermost fractal behind that at 194.55 or you can use the previous bear flag behind that which coincides with a flat kumo top. The latter will be the beginning of relatively strong resistance, so you may even want to consider choosing that as an area for moving your stop loss if price breaks above it.
NEO-USDT Bittrex | I noticed NEO was ahead of many of the other names in that it has broken a recent bull fractal, though it has been overbought for a while on many timeframes. A break above the neckline of the double bottom on the 4h would be a stronger bull signal in my opinion
That’s all for tonight. Be sure to check out my status update for other ways to follow me on social media or find the link to the Cryptide Discord. You guys have a great week ahead. Roti out.
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This is for educational purposes only and is not intended as financial advice.
BTC-USD Coinbase | BTC continues to find equilibrium and is finding trouble breaking above 9700, but if the RSI cools off on most timeframes then we can see a climb to around 10100 where I expect a new equilibrium pattern to form, then it may push above that and find less resistance upward to 10450 (as per my fractal-Ichimoku system, whatever you may call it).
LTC-USD Coinbase | LTC is still correlating with BTC, it did not see a double top like BTC but rather a larger higher low and lower high, a healthy equilibrium setup for the bulls. For context I’ve added a photo of the 15minute, where you can see how it’s attempted to break above the ascending triangle. In the video I grappled with whether I’m neutral at this point. I’d say watch for a bull break of the triangle, then of the fractal at 193, and finally the uppermost fractal behind that at 194.55 or you can use the previous bear flag behind that which coincides with a flat kumo top. The latter will be the beginning of relatively strong resistance, so you may even want to consider choosing that as an area for moving your stop loss if price breaks above it.
NEO-USDT Bittrex | I noticed NEO was ahead of many of the other names in that it has broken a recent bull fractal, though it has been overbought for a while on many timeframes. A break above the neckline of the double bottom on the 4h would be a stronger bull signal in my opinion
That’s all for tonight. Be sure to check out my status update for other ways to follow me on social media or find the link to the Cryptide Discord. You guys have a great week ahead. Roti out.
--
This is for educational purposes only and is not intended as financial advice.
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