On the 4 hour, LTC is being squeezed between the Resistence trend from Feb 19 high and the Fib 0.382 retracement level. The convergence of these two lines is on March 28.
LTC has a couple of options:
A) Break resistence and head towards Fib 0.5 at $176
B) Maintain resistence and drop through Fib 0.382 and heads towards Fib 0.236 at $136
At current $160 price we have potential percent movements towards the next fib levels:
A) 10% gain
B) 15% loss
I'd love to give this to the bulls, but I'm leaning bearish here.
Comments welcome as I am still learning TA, this being my first ever chart.
LTC has a couple of options:
A) Break resistence and head towards Fib 0.5 at $176
B) Maintain resistence and drop through Fib 0.382 and heads towards Fib 0.236 at $136
At current $160 price we have potential percent movements towards the next fib levels:
A) 10% gain
B) 15% loss
I'd love to give this to the bulls, but I'm leaning bearish here.
Comments welcome as I am still learning TA, this being my first ever chart.
The move was not indicative of LTC specifically as BTC, LTC, ETH and BCH all had sells offs.
In late afternoon, Litepay annouced it was closing. You can now see a de-coupling on price cadence with BTC. LTC going down slightly more while BTC flat or slight ups.
Target still remains at $136.