LTC idea from a few days ago is still playing out very well. I think we will see 190 LTC before a retrace to 170 and a clear decision as to what direction this market will be moving. I am leaning towards A but crypto has shown time after time how quick bears can change directions. Let me know what you think.
Before talking about retracing to 170....let's get to 170. LTC is struggling to get to 155 and retrace to 120ish.
kaafinancial
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@magnumv8driver, agreed but look at the dollar action from jan 31 to feb 12. Same type of consolidation and minimal movement. We just broke out of a ton of long term resistance. I can see this choppiness playing out until as long as Tuesday before we get moving. RSI needs a break. What are your ideas?
magnumv8driver
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@kaafinancial, Hmmmm.....good point. I can see the pattern you are referring to possibly playing out again. Right now I don't really have an opinion on LTC because it seems like there is too much indecision in the market. I'd really like to see it go sideways and consolidate a bit, or even drop some to get the RSI lower. Right now the RSI seems too overbought to spike the price by $50. I think what you are saying will happen eventually though....like maybe in a week or so.
kaafinancial
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@magnumv8driver, Let's see how the next few weeks play out,haha its been long winter...cant wait to start making some money again soon