nagihatoum

LTC hanging by a thread on the daily

Long
BITFINEX:LTCUSD   Litecoin / U.S. Dollar
LTC has been breaking support after support and if it breaks this support it will drop to $50 eventually. A bounce will target the resistance line of the channel.

Oscillators are bottomed out so there is a good chance it will bounce. Things look much better on the 4hrs (see idea below). So I am biased for a bounce, but not strongly.

The possible price actions, both bearish and bullish are further confirmed on the weekly.

Comments

Why do you think shes dying
+1 Reply
nagihatoum DeanoGunz
@DeanoGunz, i am biased up, but looks really bad on the daily if closes below the support today.
Reply
DeanoGunz nagihatoum
@nagihatoum, could turn into a free fall overnight
Reply
Very powerful trendlines.
Reply
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