Hi all,
I'm always on the lookout for that one amazing pitchfork that price really seems to respect. I think I found that one on Litecoin. This Pitchfork encapsulates all the price action of Litecoin very nicely imo.
It's the inside PF taken of the first three major pivot points and 7 years later price is still respecting those fib levels.
I've put the most relevant fib levels on here where price has reacted best to, but I checked others and those also had some nice reactions. You can check them yourself.
At the moment ltc is just below the 0.382 fib. Break down and the next fib is 0.236, but the previous two major pivot points bounced off the 0.146 fib level. This would be my down side target. Of course with a big possibility of it going all the way down to touch that median line, which would coincidentally also be a double bottom.
On the up side (break the 0.382 fib) I would target the 0.618 around $80
First see which way it'll break
If you like my posts here on TV. Come follow me on twitter for more daily updates on BTC and other cryptocurrencies.
Cheers
Cryptotoad
I'm always on the lookout for that one amazing pitchfork that price really seems to respect. I think I found that one on Litecoin. This Pitchfork encapsulates all the price action of Litecoin very nicely imo.
It's the inside PF taken of the first three major pivot points and 7 years later price is still respecting those fib levels.
I've put the most relevant fib levels on here where price has reacted best to, but I checked others and those also had some nice reactions. You can check them yourself.
At the moment ltc is just below the 0.382 fib. Break down and the next fib is 0.236, but the previous two major pivot points bounced off the 0.146 fib level. This would be my down side target. Of course with a big possibility of it going all the way down to touch that median line, which would coincidentally also be a double bottom.
On the up side (break the 0.382 fib) I would target the 0.618 around $80
First see which way it'll break
If you like my posts here on TV. Come follow me on twitter for more daily updates on BTC and other cryptocurrencies.
Cheers
Cryptotoad
