I missed a major trendline on my last litecoin chart. I've added that line and tried to be more accurate on the others.
I've mapped a potential direction on the chart. Another possibility is that Litecoin makes a major move and jumps above the trendline (bitcoin did this). If that happens I think we will see a push towards 175.
I've mapped a potential direction on the chart. Another possibility is that Litecoin makes a major move and jumps above the trendline (bitcoin did this). If that happens I think we will see a push towards 175.
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This has been a pretty brutal drop for litecoin but we are right where I thought we would we be. We should see a fight to hold this level but I am personally sitting on the sidelines for now. If we lose this level we will probably drop down to the $172 level.
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Take a look at the RSI on the LTC/BTC pairing. This is the lowest litecoin has ever been against bitcoin. Over the next weeks/months I do believe litecoin will go lower; however, to do so the RSI needs to come up first. So, I have decided to open a long position.
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What do y'all think? Will we make it all the way down to the $50 level?
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Lots and lots of resistance here. I would not FOMO into a long position here.
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Litecoin is almost a buy. It should fall down and hit the wedge line that it broke out from and that should give a strong reaction. Still some falling to do but I expect a large pump when it hits there. Good luck trading!
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We hit the wedge line at 49.50. I have switched to long. let's see what happens now!
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Finally getting some relief! Not sure if anyone still follows this idea but, if so, did you go long at $49?
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Hope this chart has been helpful.