Smoke explodes on volume, Litecoin takes off, Friday night vaping.

rawpride (62)in #cannabis • 5 years ago

"As I've said above, I think we're due for a bounce."

Smoke makes a big move!

I called it a few days back in my market analysis (https://smoke.io/offtopic/@rawpride/smoke-market-analysis-price-supports-a-higher-low-02-05-2019). We're now seeing a major bounce in price that nearly double price from daily low to high. Things were very volatile after the initial pump action took place. Price has settled for the time around .7 BTS, which is still up quite a bit from where we were at before. Lets take a zoomed in look at the hourly chart to see the action.

Nearly hit a 1:1 ratio with BTS

We put in a high of 0.985 BTS per Smoke. That's a really aggressive pump. I had said in another analysis before this one that due to the pump in whaleshares, I was expecting a pump in smoke as well, and we have seen a big one today. The books have gotten pretty cleared out by this move and we could get pushed back down to it, but we still got room to potentially push higher. It's tough to predict things from here.

Friday Night Vaping

I accidentally left this bag in the freezer too long while writing this and as you can see, the vapor has dissipated quite a bit. It's a lot easier on my lung for that reason, but less tasty and less potent. It's super cold out again in Chicago so I'm not doing a whole lot tonight, just stayin in and kicking it, enjoying some kush vapor, watching the markets get exciting again.

Litecoin Pressing into resistance

Litecoin has really made an incredible move up today. It made over a 30% gain today, in a single day. From here it's about a 50/50 whether it's going to correct back or make another big move up. If it can break the trend resistance it's up against, it could see a move up to $51 or higher pretty quickly.

Taking a bit of a closer look

Taking a closer look we can see how the price pushed right up to trend resistance and stopped dead. The general market has pushed up today, so it'll be interesting to watch closely and see where we go from here. I am really not sure where this is headed, it's more of a if this happens, then that'll happen for me at this juncture. If we break the trend, I think we'll make another big move up. If we can't and we start to break down, I would expect us to at least revisit the $35 level.