*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
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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.