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LTC continues to be dictated by the 50MA and as we can see a possible downside leg is soon as the 50MA comes closer to become even more of a resistance.
After the Loss of 10 Billion in the market, the final push towards the downside is on its way. After Litecoin lost its support we could be heading down to a new low of $44. This support is a very major level and i do believe we could even break this and head towards $39.
Indecision forming on resistance, if next candle breaks previous candle high could be a new bounce
During the last month we have seen a drastic sell off in all crypto due to a massively over-bought market caused by Over enthusiastic and fake hype throughout the whole market with bitcoin -0.34% being the leader, in my opinion this sell off is now over with currency such as lite coin increasing by around $40 in the past week.
Due to news releases in both lite ...
Guys today we saw Litecoin selling off from the 50% Fib level. It is common for Algo s to sell off the 23, 38, 50 and 61.8% fib levels when the market recovers from a down trend.
This may sound chinese to you but just imagine the downtrend we had since december. A fibbonacci level is drawn from the All Time High to the Bottom of the retracement we saw. the levels ...
LTC is trading (consolidating for a while now.
We see a bullish flag forming since several weeks now. We are right at the tip of the flag which should in case of a breakout trigger huge upward momentum.
A breakout to the downside seems less favorable since we 've been forming higher lows since late december. Any break down would likly create a short lived spike ...
Litecoin technical analysis for December 16 2017.
The bullish flag has been forming since a few days now after a very strong uptrend on litecoin.
Sellers have tried to make lower lows but we ve seen a quick recovery to higher levels. Since Litecoin is trading in a so called BULLISH flag formation and is currently bumped to the upper trendline we can expect it to ...