I will not give many explanations about it, the graphic is well explained and my idea is concise. I recommend selling even if the loss is up to 10% and take advantage of the purchase when LTC touches the $ 160.
After that we will possibly have a lateralization of the market and finally a comeback to the $ 200.
This will happen, I hope you take my warning. Good luck!
Comment
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We see how LTC is in the support line right now... 2 things will happen.
1. Break this support in a few hours 2. Break this support in 1-2 days
But anyways, LTC will break this support.
PS: sorry for my bad english, isn't my native language
Looking good so far, I'll be checking back in as this ages. Do you think LTC might revisit sub $150? Also, if you ever need a place to share your ideas, check out reddit.com/r/litecointraders . We're pretty new but we're interested in this kind of serious analysis.
Good analysis. Totally agree with you.
But anyways, I think it's still in the downtrend channel. Draw a resistance line and a support one and you'll see a perfect channel.
It could be another possibility, isn't it?
DonPray
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@Andbcoin, Yes, maybe. I think a lot of people who buy BTC with LTC cause this.. Because the BTC is in low price actually (compare with 2 days ago). So.. we can think: The LTC is in downtrend because of LTC or because BTC? This question is for me, the next move. What do you think?
Andbcoin
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@DonPray, You're right. LTC, like other cryptos move up or down according to what BTC does.
I don't know why, BTC is the core. I'd prefer they were independent...
However, I think LTC is going down, not because BTC, but because LTC itself.
There isn't a huge volume, there was a diamond pattern, litepay launch failed, and also, it's drawing a clear ABC patern.