Hello, everyone.
Before reading any further, please be sure to leave a like and follow us on IG @ej_wlk. It'd mean a lot.
Now, let's get into this analysis. It appears as though the bearish trolls that have been swarming trading forums claiming crypto to crash have been put in their place. Yesterday was admittedly somewhat of a shock, but we must stick to our forecasts in weary times. If anything, this false crash yesterday provided an ideal opportunity to buy into XBT and LTC for cheap. Now that we've broken out, we're only strengthening potential for more bullish movement.
That being said, do not be surprised by minor pullbacks that are incredibly likely to occur. After such an intense breakout (13.74% today), I would expect a fallback to support at around $50-$51 tomorrow. Not to worry, however, the bears will once again be shut down, as we can expect Litecoin to move upwards to resistance at $55 within a week. Any price movements tomorrow will likely be minor and we must now wait for Litecoin to make its next surge upwards.
Keep in mind, Litecoin is an altcoin, meaning it follows price movement of Bitcoin almost identically. We reference Litecoin because no real conclusions can be made from Bitcoin's wild chart at the moment.
Prepare your alarms, watch for volume surges, and we are longing LTC and XBT until we reach our next resistance line.
Thanks for reading. Leave a like if you agree!
Follow us on IG @ej_wlk!
Before reading any further, please be sure to leave a like and follow us on IG @ej_wlk. It'd mean a lot.
Now, let's get into this analysis. It appears as though the bearish trolls that have been swarming trading forums claiming crypto to crash have been put in their place. Yesterday was admittedly somewhat of a shock, but we must stick to our forecasts in weary times. If anything, this false crash yesterday provided an ideal opportunity to buy into XBT and LTC for cheap. Now that we've broken out, we're only strengthening potential for more bullish movement.
That being said, do not be surprised by minor pullbacks that are incredibly likely to occur. After such an intense breakout (13.74% today), I would expect a fallback to support at around $50-$51 tomorrow. Not to worry, however, the bears will once again be shut down, as we can expect Litecoin to move upwards to resistance at $55 within a week. Any price movements tomorrow will likely be minor and we must now wait for Litecoin to make its next surge upwards.
Keep in mind, Litecoin is an altcoin, meaning it follows price movement of Bitcoin almost identically. We reference Litecoin because no real conclusions can be made from Bitcoin's wild chart at the moment.
Prepare your alarms, watch for volume surges, and we are longing LTC and XBT until we reach our next resistance line.
Thanks for reading. Leave a like if you agree!
Follow us on IG @ej_wlk!