Could see a bit more downside before up, China is important to ltc as well so that can be an excuse.
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Bouncing here at .0155. At least for now.
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Going lower....looking for a hit of the first target
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Still expecting a reversal soon around .0161-.0162...if the price manages to sustain above this level then I will probably believe the bottom is already in.
Đóng lệnh: đạt mục tiêu
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: ) Possible that is all we get or way may get a nice bounce before heading to target 2. Wouldn't count on it though.
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Yup, support retested on the 1h and looks like it held: Next obstacle is the blue descending trendline, above there and I think its fairly safe to say the bottom is in.
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Oh noes, support broke, next target coming!
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yup, access denied! Now former support made resistance, 30 min chart:
Good call on the reverse C&H, if you zoom out to 1D this chart looks like a huge head and shoulders as well, looks bearish for sure but the support around .0158 has a lot of history. If you look at LTCUSD it has made a lower low so it's possible that the ABC is over but that doesn't look decisive at all to me, looks like we may be heading to next support soon absent some deus ex machina in the news.
ltc-joe
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@ahbahb, thanks! Well, we'll see soon enough if it was a good call : )
Ya i mean on the bull side the daily ltc/btc chart kissed the 100 MA and formed a nice reversal candle, so its *possible the bottom is already in but i'm still leaning to the price actually hitting my first target and possibly the second. I do think this is the beginning of a new trend after a big correction, and usually that means the majority of people assume the bear is still going, thus why wave 2's usually retrace about 50-78.6 of the trend. On my chart I only show the 50 and 61.8 because that much of a drop is probably a stretch here.
Ya I know what you mean with the head and shoulders but IMO the left shoulder is too high to be valid, and further lots of big developments comign down the line with ltc, so tough to see that playing out. Does looks like a great illusion to get people to go short after this drop though and get rekt : )
BigD2017
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THIS CORRECTION IS JUST STARTING. NOT A 24 HOUR CORRECTION. HOLD CASH FOR THE REAL DOWNWARD MOVE.