Whst about the data pre-2015? Litecoin was formed in 2011 so there isn't enough data from poloniex to reach this conclusion on a monthy chart. A little deceptive don't you think? Sure it's possible to dump big from here but is it likely? Not sure about that. A dump from here means a crypto-wide break of all-time lows (btc at $1000, ltc at $4, eth at $12, bch $0 etc).
DerrickGibson
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@fortunekr, This is an unbiased view of the most likely outcome based on historic performance. The 200 day MA is trending down and this is our first attempt to get above it since it rolled over. Looking at what happened the last time LTC was in this situation, it was not able to stay above the 200 day MA on the first rally attempt and it sold off hard.
fortunekr
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@DerrickGibson, if we break the major low (around 0.007) then I'll concede. Last line for the bulls needs to hold (0.008). If you're right, a crypto bloodbath is coming and many coins/projects will die. Hope you picked the right bags. :)
DerrickGibson
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@fortunekr, BTC isn't doing anything to change the bear trend so I don't think LTC is going to start a new bull run anytime soon. Coins like LTC will be fine even if it goes down to 0.001. I don't have bags. I'm not looking for anything but shorts until the trend changes from bear to bull.