Simple move to the upswing and then we can expect a retracement back down and but before it begins its bearish decent, we can sell our LTC and buy back when it is low to increase holding size... been a while since ive posted, so lets see how this one pans out...remember guys dont try and predict the market, your not a time traveling God, but you can observe and...
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This could play out but there has been many bullish signs for the last couple of days, c wave could retrace to 0.5 fib level, but considering how bullish its been, I cant see c wave retracing past 0.312 fib level. only time will tell, just gonna see how it plays out for now and buy back in at lower levels.
Sorry for the messy chart guys, still learning EW theory...
Looking at the LTC chart with Heikin Ashi candlestick pattern, we can see the trend much clearer, and things are looking good with a strong uptrend, all green candlesticks with high wicks, which indicates the trend is currently strong.
However, I don't think we are completely out of the down trend just yet, price needs to make a higher high on the daily before...
This looks to be a very key resistance level for Litecoin right now, if we can breakthrough then i would expect a retest of this line as new support, then a breakout. Interesting to see how this plays out...
I think price may touch 55.0 or even 50. The current down trend may take really long time, being optimistic I could think 3 or 4 weeks down. Being a bit more realistic I'm thinking the critoworld will recover in about 6 months. Well, news always surprise ! let's hope for the better.
Good luck to everyone
I give litecoin an avoid rating now after the news that Charlie Lee dumped all his holding on the recent parabolic move.
From now i can see sideways down action.
Litecoin doesnt really offer enough more than BTC IMO to justify the parabolic move in value. Its use case isnt really much different to BTC except its shorter block time. Ripple can probably justify a...