BITFINEX:LTCUSD   Litecoin / U.S. Dollar
It appears that the storm is over. Let's see if LTC fares the weather, with 208 as her next target.
Comment: Target 1 Reached :)
Trade closed: target reached:

LTCUSD hit two of my targets on the fibonacci trend extension. at this point there is recognizable bearish divergence on the RSI and STOCH. RSI.

From here I will look for reentry at around the 4hr; 50 ema zone at $200. this formation is comparable to a falling wedge, which is a very unpredictable pattern that often 'fakes out' before determining direction. Use caution when deciding reentry.
I am a fan o Lite coin but that was unexpected... 2 day pump... How far do you think retracement will go? I got around 180-190...
@avito1, Im under no impression that the retracement will be soon. That pump was expected by many, due to the public adoption announcements. In my opinion, LTC may pull back numerous time but continue uptrending to the old top.
avito1 marshallblack
@marshallblack, How to you reckon support zones will be determined? Considereing all downtrend lines have been broken... Im thinking based on fibs... most traders will follow the pattern back?
Dont you think its already in an oversold territory?
ArsenB ArsenB
Well it could be on a second higher high!
@ArsenB, Overbought doesn't necessarily indicate a price reversal, especially in crypto! I think this may only be the beginning of what's to come for LTC!
ArsenB marshallblack
@marshallblack, It broke out.. now retesting...
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