Apparently LTC has broken yet another resistance barrier. The dotted trend line was my last attempt at reaching for a strong resistance level; it seems to have run away from resistance and is creating a new trend. Ichimoku still has not confirmed the bulls (price is still within the red cloud and has not closed above).
These are the times that being patient is really key. Lets watch to see what happens.
SCENARIO 1: We continue tracking the blue upward trend line to about 233$, break and hold above it.
SCENARIO 2: We continue on this new support level and bounce between 170-233$ for some time.
SCENARIO 3: We bounce down from the 170$ back to the purple support at 135$ and bounce between the two for some time.
Most probable: Going by the ichimoku and what it did inside the previous red cloud; looks like scenario 3 will play out from my observation.
These are the times that being patient is really key. Lets watch to see what happens.
SCENARIO 1: We continue tracking the blue upward trend line to about 233$, break and hold above it.
SCENARIO 2: We continue on this new support level and bounce between 170-233$ for some time.
SCENARIO 3: We bounce down from the 170$ back to the purple support at 135$ and bounce between the two for some time.
Most probable: Going by the ichimoku and what it did inside the previous red cloud; looks like scenario 3 will play out from my observation.
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Close up with Fib Trace added. Lets see if the 50% level acts as resistance or support tomorrow.
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Wanted to add new support/resistance levels. Arrows indicate the obvious.
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Added projections.