whatsinthecupsir

Litecoin Short Term TA Day 7

BITFINEX:LTCUSD   Litecoin / U.S. Dollar
Feels good to see Litecoin finally out of the 110's and 120's. Though on this little bull run we couldn't top our previous high of $173.85. At this moment we only reached about 157.30 and are currently moving sideways/a little bearish .

Very short term, I have support at about $140 right now, and have a buy zone in the 138-142 zone incase a falling wick reaches there. Next support after that would be $130. Resistance is at $150-152, but that shouldn't be to hard to break if we have the volume . Next resistance after that is at $160, which would be great to break because we haven't broke that resistance line in a while.

I hope you guys were able to cop some LTC / BTC             / Alts while they were very cheap. I know I did and even though I wouldn't mind it dipping just a little bit more, I am extremely ready for the markets to continue going up.

Please check out my previous day Short term TA'S of LTC in the related ideas section and follow me if you would like to keep up with them.

Comment: looks like LTC bounced completely through my buy zone. You can't even see the A anymore!

Jokes aside, I expect some resistance as we start to head back up into the upper 140's. If we can get past 152, then we will be out of the pattern of short term higher lows. If we do dip again, I do see it going lower than 138, but not higher than 130.
Comment: Whoops sorry, I meant to say 137. It bounced off 137 twice before going back up so I have that as our main support right now.
volume on ltc has fallen 400-500 ltc in the past 24 hours, will this mean less resistance as it falls?
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