We noticed a significant trading breakout might be taking place in LOOMBTC.
The recent trend is for altcoins to retrace 23% of their recent down moves. Like many bear market rallies, these up moves have been tremendous and very short-lived. So, you have to jump on the up move while you can.
In this case, LOOMBTC has taken out previous support near 362 and could be headed for the 23% retracement of its substantial down move. That level is up at 654.
Bottom Line: If you like LOOMBTC, you can try and buy a dip if there is a return move to 362. If you love LOOMBTC, then you can try to FOMO in betting it rips to 654. If LOOMBTC closes below 362, that would give us pause.
The recent trend is for altcoins to retrace 23% of their recent down moves. Like many bear market rallies, these up moves have been tremendous and very short-lived. So, you have to jump on the up move while you can.
In this case, LOOMBTC has taken out previous support near 362 and could be headed for the 23% retracement of its substantial down move. That level is up at 654.
Bottom Line: If you like LOOMBTC, you can try and buy a dip if there is a return move to 362. If you love LOOMBTC, then you can try to FOMO in betting it rips to 654. If LOOMBTC closes below 362, that would give us pause.