Short term, I believe that by watching this sudden downtrend on LTC and the issues with ETH and BTC rising we are going down. In fact, I think we'll hit 55 at bottom which is a solid hard consolidation for a bigger high up to 75. The trend up to 69.5 started from 50 so it would make sense those who bought a few bucks above 54 to want to cash out. Profit is good right? Anyhow, I am not 100% on this prediction but if the trend continues and is a lot more forgiving on October 18 we could see a sideways movement at the bottom which people will be able to buy around 55-56 comfortably instead of fearing a miss out.
Keep in mind that if you are seeing LTC at 60 or below it is a GREAT buy because you do not want to miss the next leg up to 75. After 75 we will come down to the low 60s. I'll make a chart when that happens. This is the move though I would believe is also possible.
Two scenarios. LTC reached the bottom already around 58.5, or we will go down to 55. If we managed to sink lower on this chart where the yellow circle is, we will dive over night into the morning on October 18th for a sideways move into the next moon. How long will we go sideways? Its possible it can be 24-48 hours so if you see a buy opportunity. Consider yourself very lucky at that level
FINAL SUMMARY:
LTC BOTTOM 1: 58.5
LTC BOTTOM 2: October 18th: 55-56 LTC
LTC BOTTOM 3 (rare) 54
Happy Trading!
Keep in mind that if you are seeing LTC at 60 or below it is a GREAT buy because you do not want to miss the next leg up to 75. After 75 we will come down to the low 60s. I'll make a chart when that happens. This is the move though I would believe is also possible.
Two scenarios. LTC reached the bottom already around 58.5, or we will go down to 55. If we managed to sink lower on this chart where the yellow circle is, we will dive over night into the morning on October 18th for a sideways move into the next moon. How long will we go sideways? Its possible it can be 24-48 hours so if you see a buy opportunity. Consider yourself very lucky at that level
FINAL SUMMARY:
LTC BOTTOM 1: 58.5
LTC BOTTOM 2: October 18th: 55-56 LTC
LTC BOTTOM 3 (rare) 54
Happy Trading!
Trade closed: target reached:
TARGET REACHED 55.X! Careful! It could go down or this is the dip. BUY ZONE!