Pleased to see SoFi supporting Litecoin on launching its crypto trading platform!
Now, for the charts!
LTC is bouncing almost perfectly off these fib lines. Didn't anticipate us bouncing off resistance back to 50 from 80. I see now that that was strong resistance because of the 50w EMA and rib added confluence to that resistance area. We could possibly see lows near $40 in the coming weeks. Some say even $16, which would make @London55555 correct (unfortunately). If we break December 2018 lows of $22, we will definitely touch that area. But, I would be a huge, all-in buyer were that the case. Because you see, that is the bottom of the larger schiff channel I have drawn. It could produce a buy opportunity similar to mid 2017, and we see an increase to 1k, even to 5k (top of schiff channel). That's a bit of a daydream still given current sentiment, but I'm a believer first and investor second. That's just how I am with LTC. If we do get as low as Dec 2018 lows or break lower, it will be a long slow bleed to get to the bottom portion of this channel for sure.
I have admitted my emotional attachment to this investment! Please don't take this as financial/investment advice
Now, for the charts!
LTC is bouncing almost perfectly off these fib lines. Didn't anticipate us bouncing off resistance back to 50 from 80. I see now that that was strong resistance because of the 50w EMA and rib added confluence to that resistance area. We could possibly see lows near $40 in the coming weeks. Some say even $16, which would make @London55555 correct (unfortunately). If we break December 2018 lows of $22, we will definitely touch that area. But, I would be a huge, all-in buyer were that the case. Because you see, that is the bottom of the larger schiff channel I have drawn. It could produce a buy opportunity similar to mid 2017, and we see an increase to 1k, even to 5k (top of schiff channel). That's a bit of a daydream still given current sentiment, but I'm a believer first and investor second. That's just how I am with LTC. If we do get as low as Dec 2018 lows or break lower, it will be a long slow bleed to get to the bottom portion of this channel for sure.
I have admitted my emotional attachment to this investment! Please don't take this as financial/investment advice