Is This the Last LTC Correction Before the Big Bull Run?
We are definitely not out of the bear market. It sure looks like we are stuck within this new downward channel. And from the looks of the Stochastic today, I think the downward action will begin. This is my best guess of what will happen, not trading advice. Anything can happen, and LTC has CONSISTENTLY made a fool out of me. That being said, here is what I think...
We will continue to mirror the action on BTC, and follow it down to the evasive and mysterious bottom of the bear market. The most sensible bottom, in my opinion, is the one formed by the overall price action of the last year or 2. LTC has a really strange chart pattern, where we seem to skip the accumulation and consolidation phase that is normally horizontal, and without much volatility. IF we make it down to the bottom of the overall base trend line, I think enough consolidation will have taken place, and we will see a breakout and a run.
LTC is building quite the respectable platform, and I think the future is looking pretty good. The key for me is to stop looking at the price action every day, and to step back away from it. I have gotten better about this, but I still need to settle down and not micro-manage this coin's action. Hourly action on LTC is like radio noise. You cannot predict much when zooming in on this chart. The safe way to play this is to step back and keep your eyes on the big picture.
Special "shoutout" to all the genius prognosticators who claim to be 100% correct ALL THE TIME (hint-hint), but flip-flop every instance that LTC takes a turn in the exact opposite direction that they predicted. I cannot believe how many people fall for his or her "100%-accurate" prediction claims that always turn out to be dead-wrong. I have yet to figure that out!
We will continue to mirror the action on BTC, and follow it down to the evasive and mysterious bottom of the bear market. The most sensible bottom, in my opinion, is the one formed by the overall price action of the last year or 2. LTC has a really strange chart pattern, where we seem to skip the accumulation and consolidation phase that is normally horizontal, and without much volatility. IF we make it down to the bottom of the overall base trend line, I think enough consolidation will have taken place, and we will see a breakout and a run.
LTC is building quite the respectable platform, and I think the future is looking pretty good. The key for me is to stop looking at the price action every day, and to step back away from it. I have gotten better about this, but I still need to settle down and not micro-manage this coin's action. Hourly action on LTC is like radio noise. You cannot predict much when zooming in on this chart. The safe way to play this is to step back and keep your eyes on the big picture.
Special "shoutout" to all the genius prognosticators who claim to be 100% correct ALL THE TIME (hint-hint), but flip-flop every instance that LTC takes a turn in the exact opposite direction that they predicted. I cannot believe how many people fall for his or her "100%-accurate" prediction claims that always turn out to be dead-wrong. I have yet to figure that out!