LRCBTC trade ideas
LRC on the Short TermYou can see that LRC took a dramatic drop from our most recent peak. It went into a down trend that almost looks like it's going straight down. That channel was broken and we are slowly creeping up after retracing to the 1.618 fibonacci level. Like I say in most of my posts target the 55 ema. Will need to see more volume then we currently have if we expect to reach that level. Will also keep a close eye on the macd as it approaches the zero level. Crossing the zero line is interpreted as a buy signal while crossing from the down side. Vice versa for a sell signal. If the macd is rejected by the zero line that would be a sell signal.
LRC potential launch ideaWe saw a strong decline of LRC (Loopring) during previous months, however it seems to have found support and broke out of the first trend line (the dashed one). If it continues up, breaking the solid trend line we could see some price action.
The team will release the open source mining software the 28th of February, which could bring positive sentiment.
Next to that we see a bullish crossover on the MACD trend, hopefully curves up to the positive area. Also volume is pouring in. I'm bullish on it!
Happy trading and enter with caution :)
Some good growth expected for LRC (Binance) !As BTC is entering a stabilization phase, Loopring (LRC) might be a coin you could consider on adding to your portfolio for the next 24 hours or so on Binance.
From a TA standpoint, MACD has crossed on the 4 hour, and the oscillators are showing strong momentum. This is a classic setup for a coin to make like 10% in 1-2 days, especially on Binance coins. Now, people have lost money on the bitcoin correction and that might add a FOMO factor that would increase the price even more.
Furthermore, the Stoch RSI is around 70-60. So yeah, if you stick to the technicals, LRC has a lot of potential for short term, because it has some room for growth on the 4hr.
But of course pay attention to BTC, this nasty lil kid could always ruin this investment.
As always, don't invest blindly on the coin I'm analysing. Do your own research and pay attention to the market sentiment for BTC -0.06% before investing.
LRC/BTC - Great Latent PotentialHello guys, welcome for this 3rd Educational Post !
Today, we will talk about LRC, who has great potential, but who is also stuck due to the general market sentiment.
The analysis here is more mid term-long term, so I choosed the 1day graph to present my first thought on this.
So what does the chart tell us ?
First, we see that LRC has complete the 2 first stage of his Eliot waves (A & B). If we take a lower cycle, we see that LRC has indeed complete a 5-3 cycle.
Reaching his lowest when the BTC crashed around the 16-17th of January (it is the case for most altcoins), we see that LRC first moved up again, in the direction of point C.
Then, and it is quite clear on the 1day chart, the volume started to decrease, and LRC is since stucked in a sideways channel.
What next ?
We have to wait for some volume to come, if we want to break the resistance of the channel, and return to our path towards the C point of the Elliot wave.
As for the other trade, I will monitor this one as long as we remain in this sideways channel.
Incoming news (which can bring more volume) is likely to help break the resistance. The real question in when ?
Thank you for your time, and again, it is not an invesment adivce, DYOR please !
Any comment / suggestions are welcome ! The goal of this post is to share and benefit from the knowledge/experience of this community !