I did this chart back in Feb as a quick snapshot to another chart and received the usual fan mail from LTC community. Now I think we can all see the fallibility of this rampant crypto-speculation. I doubt we are stopping at 9k BTC, probably we won't stop at 8K. With every 1000 dollars we descend we meet a new buy-in range where people faithfully invested their money as they had been told to do on a raft of Youtube and Twitter channels. This will set off a panic, a real panic that will drive prices below 5k. Expect months of bear market, real bear market. This downtrend has been bullish imo. 20k will be in 2019.
Best of luck, and always listen to cycnics as much as optimists!
Best of luck, and always listen to cycnics as much as optimists!
Comment:
LTCUSD is being propped up by the 200 dMA. With no sign of any bounce, this will fail imo. Long-term LTC target is 20 USD, just like Charlie Lee said.
