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BijouBaby
Sep 27, 2021 7:37 PM

Curious case of a not so light coin ;) Short

Litecoin / DollarBitfinex

Description

tracing all the bullish fibs of this old timer, we see what we see....after (almost) hitting the second target of last bullish fib at around 468, the price (still almost!) tested the .5 of the current bullish fib at 101.36

then we tested (still almost!) 618 of the current descending fib, and returned to the 618 of the current rise( this time we hit it ! yeaaah! )
as you can see we have a lower high, and failure to swing in rsi, being stock under the .5 of the last bullrun doesnt help neither.
as our eyes are driven to lower levels, we see this intresting spot :

66.49ish to 75.09ish, the space between .65 of the last big bullrun and the -.236 target of the last descending fib.

so passing the purple cluster ( yeah its purple, who said it has to be red or green only ? lol ), could mean a retest (almost ? ) of the .5 (101.37ish) and maybe the mentioned zone(66.49ish to 75.09ish).


so ....
selling at closing below this purple area and buying in steps at mentioned targets( 101ish, 66-75 ish ) might be a wise move
and remember, with this so called light coin, the fibs are most of the times ALMOST touched

for sure not a financial advice
just practicing and doing my homework for my senseis to look at....
and did you know a random smile to a stranger can be a good act too ? try not to look scary though..... lol
Comments
TheParisian
nice stuff you got here, you should try forex
LitecoinGuy
yes assuming the bull market is over
Sdlord
Ah yes ... LIGHT coin they said, so it must ultra sonic (not)!
What a nice analysis :)
I wish you drawn in profit
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