LBRY Credits Double Bottom FormationLBRY Credits currently finding the support near $1.4 area. This is the level of the previous support established back in April 1st. The current support is also confirmed by 261.8% Fibonacci retracement applied to the corrective wave up after the breakout of the ascending channel. At the same time this support corresponds to the 327.2% Fibonacci channel trendline, that adds extra confidence to the potential trend reversal, if the support will be rejected.
Currently price only produced a spike below the support, but failed to close lower. If it stays above the support, the trend reversal could take place.
But it is important to remember that close below $0.135 might result in further decline and price could reach next support level at 327.2% ($0.11), that corresponds to the lower trendline of the descending channel.
LBC
LBRY Credits waiting for volumeLBC has lost -0.72% in the last 24 hours and has found support in S1 at $ 0.00002419. Without many fundamentals and low volume this week for the pair, no considerable movement is expected and the price will probably remain in this range. If this current support is broken, the price could go to look for S2 at $ 0.00002307, up, the 100-EMA is the immediate resistance to attack.
LBCBTC Long position with Gann AnglesBuy at $ 0.22
StopLoss for now at $ 0.1845
Target 1: $ 0.275
Target 2: $ 0.325
Longterm
target 3: $ 0.465
target4: $ 0.582
Target 5: $ 0.862
LBC bearish short, bullish LTGood project, good team, great concept. decentralized media sharing platform. needs TIME. lots of bag holders, notoriously slow. patience tester. looking for an entry in the box. LONG TERM. have placed major resistance levels, but these wont matter in the 1-5 year range.
LBC Short Buy60 minute candles showing a clear retrace of the last pattern. The blue line is the max bottom that will likely happen, and the white line is just my own personal entry. The ellipse is over a small fractal at the bottom of the price movement which likely indicates a positive trend reversal in the short term at least. Notice that the stochastic are also showing a sign of retracing the last pastern's stochastic. As always I know nothing and this could be completely wrong.
LBRY is ready for the moon!Beautiful inverse head & shoulders pattern, only sky is the limit...
We are in front of many news in this hot project, be ready, don't regret for missing this goldie one.
This is only my opinion, please do research for yourself and good luck, I'm in.
LBRY Credits Uptrend ContinuationFollowing the previous idea on LBRY Credits , price has reached the upside target, that is $0.3 resistance at 38.2% Fibonacci retracement. Not only it has reached the resistance but it broke above it, suggesting continuation of the uptrend.
The next upside target is seen at $0.64, that corresponds to the 127.2% Fibonacci retracement level as well as the crossing between the uptrend trendline and the 8/1 Gann Fan trendline. This means that the over 100% growth could be expected in a relatively short period of time.
On a downside the support is based at previuos resistance level, that is $0.3 area. In the worst case scenario LBC/USD could get back to $0.15 form a double bottom, but it doesn't seem like the downtrend is valid, and chanced of growth are much higher than the downtrend continuation.
LBRY Credits VS Bitcoin Buying OpportunitySince January, on a corrective wave down LBRY Credits already lost 74% to Bitcoin, while the current low has been found at 2400 satoshis. At that level, LBC/BTC rejected the upper trendline of the descending channel, formed back in December 2017.
However, after bouncing off the channel, price failed to break above the downtrend trendline, leaving some uncertainty behind. At this stage, LBRY Credits could continue to consolidate between 2400 and 3250 satoshis, but the break above the local resistance could trigger a wave up, towards 5k satoshis resistance. This is the 38.2% Fibonacci retracement level, which also corresponds to the uptrend trendline breakout point.
But, if the resistance will be respected by the market, the price might go lower towards 2k psychological support, and break below that price could push it even lower, back to 1000 satoshis area.
LBRY Credits Chance Of ReversalLBRY Creadits downtrend could have come to an end, as price found the support at 0% Fibonacci applied to the uptrend trendline breakout point. The support has been rejected cleanly followed by the break above the downtrend trendline.
The chances that the corrective wave up will follow are quite high, although this could take some time. Price still could go slightly below the $0.15 support or produce a double bottom prior to moving higher. The very strong resistance area is based near $0.3 and could be the key level in the medium term future. Break above $0.3 should confirm the trend reversal, while rejection could extend the consolidation.
LBC/BTC POTENTIAL PROFIT 310% LONG-TERM INVESTMENTLBC/BTC POTENTIAL PROFIT 310% LONG-TERM INVESTMENT
Buy 00001550 - 00001800
STOP-LOSS 00001200
OBJECTIVES
1. 4694
2. 6270
3. 7134
4. 8819
5. 9814
6. 12921
DESIGN
Lbry is a content sharing platform where users can define the terms and fees on which they wish to share their content, using Blockchain technology and Bittorrent protocol. LBC -1.16% -1.16% is a proof of work currency and can be mined using a GPU.
Wait and you will be given
LBC: I don't what you are doing in Crypto if you aren't in thisWTF if you don't have this in your bag
