In times like this, the market sends so many mixed signals that makes it difficult to decipher the general trend and the direction. I've found that switching to line and choosing the correct tools helps clear the signal, and in this case, it has proven to be helpful.
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TV published the charts in a weird manner. zoom out on each chart to see where the arrows correspond to PVTNote
here is an update on LTCUSD with an attached chat: Two contrarian patterns are being drawn here:
1) a beautiful bull flag is being drawn on the 4hr
2) a hidden bull is being drawn on the MACD
Here is why i don't think that these two things matter:
PVT does not confirm market direction, it actually nullifies the hidden bull and validates the downwards the direction of the market.
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Update on BTCUSD: the 4hr is starting to agree with PVT: we could be in the middle of a larger seller off. fortune.com/2017/09/14/bitcoin-bubble-investments-short/
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wrong link ;) Note
LTCUSD is at the bottom of the channel. Entry at 48.1Note
BTCUSD still might have some more downside left, i think a sharp candle to 2900 USD with the daily closing above 3000 USD will be a good sign of a market reversal .
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.