Looking historical at Fib points past and present, you'll see some almost eerie accuracy regarding the instances at which we've touched fibs. Looking at the big picture here, given the rally we've seen up, could we very well see a bounce back down to 176? From the EMA standpoint, it seems as if we're still bullish, which is a signal I'm not making the mistake of ignoring again (as I shamefully had to follow up my 170 selloff with a 200 buy in yesterday :/) We're coming off of being overbought, and it seems as if we're almost already recovering back up, so might we be touching 260? Here's some thoughts I have:
1) Given the hype of Litecoin Cash, which I still stand by the belief that it's a scam coin, people have chosen to artificially inflate the price of LTC so that they could then flip down and build some coins in the process. Since the block is forking on Sunday, it seems we're prepping for that.
2) We see a rally to 260, followed by a dip down to 176 the following day or two.
3) People buy their coins on sale, stocking up for the fork, promising "10 tokens to every 1 LTC".
4) People abandon ship from Coinbase to go into this fork, also hurting the volume of LTC unfortunately.
5) Once Litepay launchs on the 26th of February, we'll see a nice bull rally up, and all will continue as hopeful.
I don't know everything here, so I would truly love some thoughts and opinions. We're either looking for a nice rally up, or a largely juicy flip.
1) Given the hype of Litecoin Cash, which I still stand by the belief that it's a scam coin, people have chosen to artificially inflate the price of LTC so that they could then flip down and build some coins in the process. Since the block is forking on Sunday, it seems we're prepping for that.
2) We see a rally to 260, followed by a dip down to 176 the following day or two.
3) People buy their coins on sale, stocking up for the fork, promising "10 tokens to every 1 LTC".
4) People abandon ship from Coinbase to go into this fork, also hurting the volume of LTC unfortunately.
5) Once Litepay launchs on the 26th of February, we'll see a nice bull rally up, and all will continue as hopeful.
I don't know everything here, so I would truly love some thoughts and opinions. We're either looking for a nice rally up, or a largely juicy flip.
Comment:
Well, I was a bit off with the top, but it looks like something is starting to happen for sure. Could we see a retest to 176 now?