LOMO: Reversal + AirdropSo it's been a crazy 48 hours with BTC bleeding the alt market but a recovery is near. I like to think of these times as a great opportunity to buy altcoins on sale. one of my favorite alts BITTREX:LMCBTC is looking ready for the rebound. Like many alts at the moment it is very oversold on multiple timeframes and finding its bottom (for the moment). Like many other alts it has experienced a +50% drop in price in the last 24 hour likely due to the light order book. However this coin has strong support and a budding community that value it at higher that the current price. I suspect it will return to previous price levels relatively quickly for the very same reason it has dropped (a light order book is a double edged sword. Entries at < .00000400 are optimal. The LOMO team is also having an airdrop event today and tomorrow which may possibly hasten the recovery. Trade smart.
Lomo
Update: LOMO Finding BottomLMCBTC looks to have definitely found its bottom at the 570-560 price level and has begun to rally. If significant breakout occurs LMC has a long ways up it can run. Hope you guys are in this one.
LOMO Finding BottomBITTREX:LMCBTC is finding its bottom. Currently resting in a strong area of support but looking ripe for an upward move. s3.amazonaws.com
This support level is also well established on the daily if you're interested in a good entry for long term trade.
Entry: 570-590
Target: 700
TP1: 650
Stop: 540
