CryptoBullGod

Don't Sleep on Litecoin!

Long
BITSTAMP:LTCUSD   Litecoin / U.S. Dollar
When Bitcoin moves, Litecoin moves

Sometimes Litecoin has even proven to be a leading indicator for Bitcoin's price movements

Right now Litecoin is setting up for its move above the black descending trendline. The MACD , STOCH , STOCH RSI all show bullish divergence . It looks like price accumulation to me.

Once we clear our $60 price target (major area of support/resistance , and ~50 Weekly SMA ), we could begin to see some significant price moves upward.

What we want to see are prices maintain levels right around the 10 Weekly SMA of $45
Comment:
getting closer to decision time!
Comment:
We broke up!

1st target: Weekly 50 day SMA at $52.5 (purple MA trend line)
2nd target: Red horizonal resistance line at $60
Comment: Once we clear $60, $80 is on deck!

Comment:
In my last update, we broke our descending line (bullish).

Ideally, I wanted to see us test the $80 price level and ultimately consolidate between $60-$80.

Bitcoin (driver of value) ultimately took a small poop on the market, hence litecoin broke down as well.

What I am now looking for is the dark green line ~$40 to hold (if not, it's very feasible to see a wick to ~$33.

Currently, I anticipate the $40 price level to hold, and ultimately retest the $60 level.
Twitter: @CryptoBullGod

Unique Value I add to this space:
https://youtu.be/YOa3NPEZuC0

Comments

you nailed it, so proud of you. awesome , I am your fan
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