its been hell of a run with this LTC going up and down lately. for a second i was thinking that the bulls where going to win this fight but that never happened. The bear was waiting for them around 132-133 usd to pimp slap them.
THE CHART we are looking at the the 4H chart now we can see that LTC has formed a ascending triangle and we have broken to the downside. the 20 EMA fail as support and we are testing the 50 EMA now. if the 50 EMA fail as support our target then will be 111.179 usd For those who want to SHORT this
THE MACD the MACD crushed the 0 point where lately the bears has been stepping in,it went long but has formed a nasty bear crossover.
THE RSI not much to say except its going lower and lower.
we are actually in a bearish divergance the price was going higher but the macd and rsi was losing there momentum. i marked this with a red line so you can see it
This is just a correction. We are now looking for a higher low. Probably around usd117. When this happens it will be confirmation of bulls having strength. Happy days!
GazMema
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when will it go down? :) after a huge increase miss?
Cryptochikito
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@GazMema, brother i said IF we break down below the 50EMA
GazMema
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@Cryptochikito, :)..good luck trading but the bull run has just started. And it is not a fast run and a fast dive, slow and safe
darkandblue
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it is too soon to say who will be "pimp slapped"
aformby
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Also if you're expecting a go nuts climb in price then buy in Sept / Oct sell late Dec / early Jan. Not many people seemed to have picked up on this seasonal aspect to the Crypto-sphere