whatsinthecupsir

Litecoin Short Term TA Day 13

BITFINEX:LTCUSD   Litecoin / U.S. Dollar
Hey guys, this is going to be a short but necessary analysis since we are facing a critical moment with LTC. We have bounced off our bullish support trend line for the last hour or two. I have labeled $203.60 as a critical support because if we dip below that, then LTC will become bearish . The green support line is our main one from when we became bullish after dipping to a low of $106.30 at the beginning of this month.

Placing buys in the mid 200's is not a bad idea, but just know if it does dip below the trend line and candles close below it, then a dip below 200 will be feasible. The lower BB reaches right at $200 so it is possible to touch that. If this turns around, our first main test of resistance will be at about $212-214, which a bounce will most likely occur. If we blow past that then $223.60 will be the next main resistance in which I believe we will move sideways.

I will keep a close eye on this and will update this if I notice our support is broken and reversal is in progress. Check out my previous day TA's in the related ideas section and like/follow if you would like to stay up to date with them. I appreciate the support I have received with my previous TA's and hope I can continue to help.
Comment: Bounced off our short term resistance as expected. Could expect another retest of our support in the next hour or so.
How strong do you feel that we'll swing down to around 205? I'll set my sell right now lol
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whatsinthecupsir NickPadovani
@NickPadovani, I just saw this but I hope you did lol
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NickPadovani whatsinthecupsir
@whatsinthecupsir, welp, guess i'll fuck myself :/
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