Is there some mooning in our future?
This is for educational purposes only and not to be used or taken as investment advice. I cannot and will not be responsible for your actions based on this information.
Currently SBD is sitting at a nice area of support in the $3.20 zone. We have seen SBD make 3 solid pushes on this bearish trend and based on Elliot Wave we should begin to see the correction to the upside. Price is looking oversold on the RSI. All we need is some kind of price action confirmation confirming that the bulls will begin taking control.
Litecoin is also looking favorable for a bull run. LTC has also had 3 solid pushes down and has also shown large wicks to the downside as well indicating the bulls are fighting back hard. We have a double bottom at support on the daily and also have seen a minor case of divergence on the RSI.
I will not be posting targets as to prevent infant investors from making irrational decisions based on these charts but from a technical standpoint, things are looking good.
With the recent news from the senate hearing as well as Samsung entering the crypto mining chip industry, we are actually seeing some positive news in between all of the FUD that the media is blowing out of proportion. Some experts are saying Bitcoin will see 50k this year. We had a rocky start but it looks like things are starting to even out. Hopefully the ball did reach the floor and will start to bounce towards the moon!
I believe that everything I desire to accomplish, will in fact be accomplished.
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