$LTC : 35% losses for September before parabolic bull run Q4
*The best way to make money in crypto is to wait for the extremes!* Never fall for FOMO.
Alt coins continue to bleed losses during $BTC consolidation. This analysis is based on my prediction that Bitcoin will sustain 30% losses for September falling to the low 6k's, before going parabolic bull in Q4.
On the daily chart LTC is near oversold levels on RSI and the ADX (@25) has confirmed bears are easily holding this bearish trend with the -DI above +DI.
I'm eyeing prior key support at the 161.8% around $47/LTC as a critical support and possible buying area in late September.
Bobby
Alt coins continue to bleed losses during $BTC consolidation. This analysis is based on my prediction that Bitcoin will sustain 30% losses for September falling to the low 6k's, before going parabolic bull in Q4.
On the daily chart LTC is near oversold levels on RSI and the ADX (@25) has confirmed bears are easily holding this bearish trend with the -DI above +DI.
I'm eyeing prior key support at the 161.8% around $47/LTC as a critical support and possible buying area in late September.
Bobby
Comment:
Going as planned! I expect the 127% retracement at $59 to provide a desperation buy zone for bulls, but it will be temporary. I fully expect $47 dollars to be tested and will be a key historical support for $LTC in Sept.