Smoak
Short

Updated Litecoin Chart

BITFINEX:LTCUSD   Litecoin / U.S. Dollar
I missed a major trendline on my last litecoin chart. I've added that line and tried to be more accurate on the others.

I've mapped a potential direction on the chart. Another possibility is that Litecoin makes a major move and jumps above the trendline ( bitcoin             did this). If that happens I think we will see a push towards 175.
Comment: It has been 2 months since I've updated this chart but all has gone as planned and hopefully some of you have profited on it. I don't think we have seen the bottom yet; however, we should see more of a bounce. As to how high it can go --- I'm not sure but we have have several levels of resistance that I am watching -- $102, $105 and then $110 for the time being.

Hope this chart has been helpful.
Comment: This has been a pretty brutal drop for litecoin but we are right where I thought we would we be. We should see a fight to hold this level but I am personally sitting on the sidelines for now. If we lose this level we will probably drop down to the $172 level.
Comment: Take a look at the RSI on the LTC/BTC pairing. This is the lowest litecoin has ever been against bitcoin. Over the next weeks/months I do believe litecoin will go lower; however, to do so the RSI needs to come up first. So, I have decided to open a long position.
Comment: What do y'all think? Will we make it all the way down to the $50 level?
Comment: Lots and lots of resistance here. I would not FOMO into a long position here.

Comment: Litecoin is almost a buy. It should fall down and hit the wedge line that it broke out from and that should give a strong reaction. Still some falling to do but I expect a large pump when it hits there. Good luck trading!
Comment: We hit the wedge line at 49.50. I have switched to long. let's see what happens now!
Comment: Finally getting some relief! Not sure if anyone still follows this idea but, if so, did you go long at $49?
Trade closed: target reached
I'm looking to dollar average myself in over the next couple months. I appreciate the simple charts with basic trendlines and momentum indicators. Makes it so simple to understand and obviously works. Thanks much I'm staying tuned B)
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bravo
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Smoak moveup
@moveup, Thanks!
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Wowwww man, you are the best, i just hope you are right whith the move up too :)). Peace!
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Smoak hauberhauber
@hauberhauber, Thanks for the kind words! You never want to be too confident but I feel really good about this next move up. Time will tell!
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Most accurate analysis ever I have seen. Nice job!
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Smoak thesaintnate7
@thesaintnate7, Thanks bud!
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We have a reversal. Litecoin is pushed to the bottom by some persons. You can see launch within 6 months
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You have dome very good.... now we have to see if this was the bottom. I don't believe so
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only if 73 is breached ... I don't see much support between 55 - 70
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