After checking on BTC I have calculated some scenarios how this is going to play out.
The Yellow line shows a steady incline after todays big drop and it must stay at a floor of 3600-3650 today for this to work and incline as the days go on If not, the first support level will be broken and we head down to 3500 which is the last support level until we have to call BTC on a true downward trend. Right now anything can happen. We just need to see what Happens September 22-25 to get an idea. If the upward trend verifies then LTC should follow suit
The Red Line represents the absolute support level.
The Green Line represents the support level on incline that must be kept.
The Blue line signals downward trend if this breaks the red line we are still going down....
Please give my posts thumbs up if you enjoyed. I will be monitoring this event all weekend to determine a real forecast but I don't see it going much lower than this.
Thank you and happy trading!
The Yellow line shows a steady incline after todays big drop and it must stay at a floor of 3600-3650 today for this to work and incline as the days go on If not, the first support level will be broken and we head down to 3500 which is the last support level until we have to call BTC on a true downward trend. Right now anything can happen. We just need to see what Happens September 22-25 to get an idea. If the upward trend verifies then LTC should follow suit
The Red Line represents the absolute support level.
The Green Line represents the support level on incline that must be kept.
The Blue line signals downward trend if this breaks the red line we are still going down....
Please give my posts thumbs up if you enjoyed. I will be monitoring this event all weekend to determine a real forecast but I don't see it going much lower than this.
Thank you and happy trading!