After A Week of Sideways Chop, Here's What I See — LITECOIN!

BITFINEX:LTCUSD   Litecoin / Đô la Mỹ
After all of the recent flip flopping around the moving averages, LTC looks like it's setting up for failure, in a way that is similar to the triangle breakdown that we saw earlier this month. As I've been saying, we've formed another quasi triangle formation (in pink) and we've broken down from it. Now, LTC is printing a bear flag consolidation under the moving averages, as the MACD drifts below the zero line under a bearish crossover. These are all sell signals. The breakdown from the triangle, the flip flopping failures at the moving averages, the bear flag , the bearish crossover on the MACD , and the fact that it has fallen below the zero line — all of these things say sell. However, since this thing has been all over the place, chopping sideways for the past week, it is very important to WAIT for the breakdown of this bear flag . Everything is starting to say sell, but we need to see a breakdown of the bear flag as confirmation of those signals.

I'm the master of the charts, the professor, the legend, the king, and I go by the name of Magic! Au revoir.

***This information is not a recommendation to buy or sell. It is to be used for educational purposes only.***

-Magic loves you-

The darkest hour is right before dawn
+1 Phản hồi
TragicPoopCannon if it breaks 110.
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zero-one zero-one
@zero-one, err i meant 137
+1 Phản hồi
Thanks for the chart, have a like :)

LiteCoin is hurting as hell right now (and it is not just because of Bitcoin right now...): a few hours ago news broke that LitePay has ceased all its activities and the company will be sold.

For those following the Bitcoin pair, here is my LTC / BTC analysis:
Phản hồi
Lamborgoni CryptoJC
@CryptoJC, thank you
+1 Phản hồi
It's still too soon....but I'm leaning toward imminent liftoff.
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140 is minimum
+1 Phản hồi
:D :D :D odrazi sa teraz
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LTC could bounce around 137
+6 Phản hồi
SmittenLTD MagicPoopCannon
@MagicPoopCannon, 137 for the double bottom
+1 Phản hồi
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