BITCOIN is in AREA 51
Bitcoin is a biohazard to our health at the moment. Check out my last blog post when I tried to warn the Tradingview world to stop buying BTC. Now! We are are still in an uptrend for the moment.
It clear we are in a consolidation phase, and this can only mean one thing. A viscous move is coming, but it is still unclear what direction we will take.
Have we moved to fast towards 14k?
Do we need a pullback to 10K to test support?
These are the questions you should be asking, and if those questions are on your mind, then you should not be buying or selling BTC. We will inevitably test one or the other. While the price continues to consolidate between $13000 and $11000, you have to remember that the price is still above the 9 MA. With price above the 9 MA should give you a good idea that the streets are not sweating this consolidation phase.
Conclusion: Wait for a or move/candlestick to obtain more confluence in this market. Grabbing BTC under 10K could be an opportunity of a life. One that may never come back around again, and remember if we break past $14000, AREA 51 will become a Sit back, relax, and get the popcorn out because this is what the smart money is doing.
Litecoin shows its True colours
LTC has been consolidating for over two weeks, and on the 27th of June, one shined the light on LTC. You can see from the chart that once we broke down through $115, the buyers came steaming in to grab their bargain. I highlighted the potential of this area in my last post, where I clearly stated that $115 would be the halfway point to the real all-time high.
The buyers did not disappoint, which means we now know where our support price is. The question is, what is next for LTC? From my point of view, we need to see a break of $140 with another strong candle.
Conclusion: If BTC does not hold its price, then we will see the ripple effect in the LTC market. If the price drops below $130, It would be a fantastic opportunity to buy. At this point, we need to see another strong move through $140, which would line LTC up to smash through $150.
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“Patience is the key to any market” – Nathaniel.
Thank you for your love and support.
Nathaniel – “The value Trader”
Little Big Movement / IONIC Capital