Loom Network vs Bitcoin | 555% - 1,453% (Interesting Pair)

Sep 16, 2024

Loom Network hit a new All-Time Low recently vs Bitcoin, technically, a double-bottom.
It is a double-bottom because both lows are very close to each other and that is all that is needed for the definition of "double-bottom" to be valid.

This a long, long-term double-bottom because the last low happened December 2020, almost four years ago. The new one came in last month; August 2024.

➖ Ok. The Tether pair (LOOMUSDT) has been growing long-term and printing higher highs, here we can see something different and for an obvious reason so I don't have to explain.

➖ We have a very strong correction recently, LOOMBTC, a steep decline. We know that a steep decline is balanced out by a fast and strong rise, thus the bullish potential.

➖ LOOMBTC does not look ready to grow but the chart will soon print clear signals pointing toward a reversal of the bearish trend.

➖ The weekly RSI is showing a bullish cross and a long-term bullish divergence while the MACD hit bottom and is trending up.

This can be an interesting pair in the coming cycle... Another one!

Namaste.

Sep 21, 2024

Trade active

+98% Bullish breakout confirmed. This is as Bitcoin remains sideways.
This is only the beginning.

Enjoy the profits.