On the right it looks like a small H&S in the making. We had a break of the neckline earlier today already, but the whole market made a stop hunt move and went back up. Because of all the fake moves lately i am not trading the H&S, unless i see some normal movement and not a short/long squeeze. What i am looking for is the bigger picture. If we will see a move like the blue line on the left. I will be waiting patiently to see if that green support zone is a long term support or not. Meaning, i want to see a move up first and a second test of the support before i will get in to this one.
Previous analysis:
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So the H&S seems to playing out now, neckline already broke and going towards the target, like the blue line on the left is showing. So plan working out so far, now important to see how the coming days will play out. Patience :)
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The target of the H&S got reached already and now we are in the green zone again. Bitcoin's drop has been slowing down, but so far no real bounce up yet. So chances on the downside are still there. For LTC, i could be we have reached the support zone from which we can bounce up from like the blue line suggests. The safe play here, as mentioned above, is waiting for the the yellow circle.
@boleroking, yes, the move up was much stronger than i thought, so i might have been completely off with my assumption, so i have not increased it a lot, still small and going to wait a bit.
boleroking
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@botje11, SPX chart indicates we might have another rough patch ahead. Let's hope they missed earnings :D
botje11
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@boleroking, Very strange, the second one does work though