If we observe Bitcoin's price action in November 2012, around two weeks before the election, the digital asset plunged by 20% and didn’t recover until weeks later. It’s important to note that BTC was far more volatile in 2012 as trading volume was minimal.
LTC seems to be trading inside a descending wedge formed on the monthly chart and is currently at $55.88, after having touched $53.44. The pattern is on the cusp of a massive breakout. Additionally, an essential technical indicator is about to present a strong buy signal.
New Traders Swear By Benzinga Options
We sift through this volatile market for consistent trades so you don't have to. Get Benzinga Options: Starter Edition to follow Benzinga's high-conviction options trades. Click here to subscribe.
DigiByte seems to be getting ready for an upswing following extended declines since September. The downtrend has been constrained in a descending parallel channel. Meanwhile, support at $0.18 in conjunction with the channel’s lower boundary allowed the bulls to take back control, commencing the undergoing recovery.
Image sourced from Pixabay
Where to put $100 right now
Benzinga’s Breakout trader is already up over 400% this year… and that was before he uncovered the next Netflix…
This former buy-and-hold investor learned to buy breakout stocks... so he quit his job and began trading full time.
And for the first time ever, Benzinga is inviting you to trade along with him:
How I've Made 400% Returns So Far in 2020
'Covid Stocks' is a phrase that does no justice to how well these trades have treated me this year. Trading against two giant sell-offs and unprecedented market volatility takes more than an eye for good stay-at-home picks: It takes hard work and deep technical knowledge.
And that's exactly what I've brought to the table for my subscribers this year, picking winner after winner leading to huge breakout gains. Plus I've maintained such a risk-off stop loss strategy, you could say it's impossible to regret following my trademark, Alpha Factor system.
That's why today I'm opening Benzinga Breakout to the public -- to share the wealth, so to speak. And show new traders and investors just how easy it can be to beat this crazy market against all odds!
© 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.