ronfkingswanson

LTC Out of bubble pattern, and back into long-term mean channels

BTCE:LTCUSD   Litecoin / Dollar
138 1 0
So many analyses have attempted to define the past two weeks' rise from the bottom as a continuation of the bubble correcting itself, and have drawn trendlines off the top and successive dumps to show why this rise must fall yet again.

But I'm seeing the resumption of a longer-term mean average rise that began before the Nov. 26th spike. In this overview, you can see the bubble as the deviation from the mean, and how it could have found its way back into the average.

This isn't to say another large fall *isn't* coming -- just that the past two weeks are following a trend channel of their own, and can be understood outside of bubble correction expectations.
I agree, and I see that potentially, a lot of traders are focused on what has happened since the $9.119 bottom, rather that what transpired before, or in the earlier history of big rallies and corrections. There are a lot of new traders entering the market at this time, and that can tend to reshape and redefine the trading community, so, I pay heed to that.
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