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
Hi @jbutler7, Are you still with us? Just to point out that Litecoin has returned to $43 where it was in Nov 18 when you heckled my page, and look where Bitcoin is - still way up 7.4k as opposed to 3.5k in Nov18. Bitcoin may not even be close to a lower low when Litecoin passes $20 and soon enough you'll see @london55555 target of $16 from the long long ago (that you also heckled) was very modest indeed.
what is the option that you use to see the whole chart like that. thanks good analysis, i am a believer too.
jbutler7
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@jdr862012, top left-ish you have to zoom out to where each candle represents 1 day, 1 week, etc etc.
UnknownUnicorn788630
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if we go $40's litecoin is dead, officially.
pray it does not.
jbutler7
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@Moonsie, It didn't die at 22.50 though... why 40? It dies at zero in my book....
dRends35
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‘member me ? LTC is going to hit £20 which you howled at some time back. What do you think now lol
jbutler7
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@dRends35, Yeah something like that. I'm emotional with LTC. It's just how I am. A lot of people (like London55555 for example) just spit out random numbers and don't show how they get that conclusion, which is a big reason why I howl at them. If you present an idea that is somewhat rational, more than just a big red arrow pointing down, then I accept it as a possibility. And for now, 20$ or lower is not a guarantee, it is still JUST a possibility.
NewYork888
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@jbutler7, How's what we "just spit out" looking now? or perhaps how we "just spit out" our call to get out of ETHE at $600 it's now at $23 the list we "spit out" goes on and on including LTC which will eventually see $16. @dRends35
jbutler7
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@london55555, Okay. All I have been asking is why. Why? Why will it go that low? Did your 8 ball say it? Or can you throw me some logic to back that up?
jbutler7
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@dRends35, Plus, after the 5-6x in early 2019, close to when we had our previous discussion, I didn't leave this out of the cards completely. Chart from June 5. (click he play button)
LTC - sub $5.
@BlockchainFaith