Hello everyone, it appears that LTC may end up flat lining September 25th. I'm a swing trader and been swinging all week but its gotten tough. The squeeze is not as easy and i'm about to stop swing trading because there is no wiggle room. If this keeps up on the path, LTC will flatline on the 25th and move completely sideways. There are two scenarios to this on the 25th.
Scenario #1 - LTC makes a mega drop on the 25th to an all time low and gets some sales and some bounce... but it may just do what it did this week and continue sideaways on a new lower support level.
Scenario #2 - LTC will drop on Friday and get the market to propel it to the 60's. At this point there are two options.
If you are going to be purchasing the lows, this could get very difficult as the timing of these lows will be very difficult to predict. The low could be 46 soon and if you invest into that low, you may get caught in the sideaways movement all the way to the 20s or 30s.
Sad to say... but this looks very bad not just for LTC but BTC and ETH look like they are on a similar path. Coupled with the low volumes of these cryptos its going to be a downward slide until something hypes it up... Sell and buy carefully folks!
(Oh and please give me reputation points. I can't get into the public chat without 50. If you enjoyed this hit the thumbs up it will help me out a lot)
Thank you and happy trading!
Scenario #1 - LTC makes a mega drop on the 25th to an all time low and gets some sales and some bounce... but it may just do what it did this week and continue sideaways on a new lower support level.
Scenario #2 - LTC will drop on Friday and get the market to propel it to the 60's. At this point there are two options.
If you are going to be purchasing the lows, this could get very difficult as the timing of these lows will be very difficult to predict. The low could be 46 soon and if you invest into that low, you may get caught in the sideaways movement all the way to the 20s or 30s.
Sad to say... but this looks very bad not just for LTC but BTC and ETH look like they are on a similar path. Coupled with the low volumes of these cryptos its going to be a downward slide until something hypes it up... Sell and buy carefully folks!
(Oh and please give me reputation points. I can't get into the public chat without 50. If you enjoyed this hit the thumbs up it will help me out a lot)
Thank you and happy trading!
Comment:
Updated on this link scaling back shows a true bullish curve pattern
Trade closed: target reached:
50 reached on September 23rd as forecast. We go down now