Short and sweet update here, bullish on ltc till EOY. However, Daily and 4HR charts are still showing bearish signs. Look at the nearest fib levels for support, as we look to the upside on the 90min, we can see some bullish action and potential price floor discovery. Would like to see LTC test and reject the zone in the yellow circle. Another rejection would indicate a triple bottom like many other major coins are doing right now, LTC is also notoriously lagged in price action to BTC so its important to note LTC has hardly broke out of ATHs and is poised for gains.
Near term downside likely(buy opp to cost average your entry and avoid chasing tops), if support holds, look for green targets over the next 3(target 1)- 7 days(target 2) with price action in the orange wedge.
We are in the yellow circle, hovering just above 300.
Oakeso1
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Very Good.
BizzarTrading
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Hopes it plays out, good work dude
Oakeso1
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I called a short two days ago and got blasted with hate by those who disagreed. Now here we are watching LTC continue its downward momentum. The haters are now silent.
TA-Tony
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@Oakeso1, @BizzarTrading, agreed. Those who are stuck on picking a side (bear or bull) will get crushed. I'm Bullish on LTC till EOY... however, it takes very little understanding of markets to know that it cant ONLY go up from now till then. Inherently, yes there will be pullbacks and its all about knowing your levels to optimize your return. Don't let keyboard warriors get to you, they lack the most important trait in trading/ investing.... ALWAYS having a fluid mindset and strategy. I havent sold a single ltc prior or during this pullback, knew it was coming at some point, didnt try to time it, and utilized other profitable positions that I SOLD at a high to then BUY LTC at a relative low. COST AVERAGE, COST AVERAGE, COST AVERAGE.
Good luck gents, thanks for visiting the page, and lmk if there are any pairs youd like me to take a look at, cheers!
Oakeso1
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@TA-Tony, Its always a battle of bulls versus bears, so I was expecting to get blasted for my bearish (short term) views. I understand that many people get heavily emotionally invested in a particular coin or stock, such that they lose objectivity. As you say, having a fluid mindset is important. Every coin has two sides. Assuming that it will always land heads up because you wish it so is folly. I have to say, though, that I was a little surprised at just how deeply invested some people are in this thing and the outright anger and scorn it provoked. But, I will continue to call it like I see it regardless of any keyboard warriors.