It's about two weeks ago, when I posted my first idea about finishing LTC pump. So far it seems that the call won't happen. It did reached the $55 level, as expected and it did got dumped (together with BTC), as expected. However, the dump happend to be just a correction, rather than a trend reversal and so far it hasn't reached $35 level yet, pushing through $55 instead.
I don't have exact levels to watch now. All I know is that I maybe have taken the profit too early and I am certainly not entering this market now :).
There is something interesting to look on though. This price action is very, very similar to that of 2015, as shown below. It's amazing, almost identical. Based on this picture, the fomo wave can be just in the middle.
On the longs/shorts chart, there is a clear indication that traders has started shorting LTC heavily, which can only fuel the pump even more (that has happened to XRP in September too).
So, I wouldn't be surprised, if LTC actually manage to reach prices even around $80 (perhaps $110, that would be extreme though). That would complete the fractal from 2015 precisely. But, the bearish divergence is still in play, it even deepens actually.
Considering the situation, LTC is quite unpredictable for the time being. It can pump more, it can dump from now on. But one way or another, it will likely meet the bottom once again, maybe even the $35 level.
LTC 2015
LTC 2018
LTC shorts
I don't have exact levels to watch now. All I know is that I maybe have taken the profit too early and I am certainly not entering this market now :).
There is something interesting to look on though. This price action is very, very similar to that of 2015, as shown below. It's amazing, almost identical. Based on this picture, the fomo wave can be just in the middle.
On the longs/shorts chart, there is a clear indication that traders has started shorting LTC heavily, which can only fuel the pump even more (that has happened to XRP in September too).
So, I wouldn't be surprised, if LTC actually manage to reach prices even around $80 (perhaps $110, that would be extreme though). That would complete the fractal from 2015 precisely. But, the bearish divergence is still in play, it even deepens actually.
Considering the situation, LTC is quite unpredictable for the time being. It can pump more, it can dump from now on. But one way or another, it will likely meet the bottom once again, maybe even the $35 level.
LTC 2015
Comment:
So it's been a month, and LTC actually reached $100, it definitely almost reached even my extreme case estimation. There is a high chance that this is our top for now. I expect it to fall further and test $50 or $35 as support, whith long term consolidation, just like what happened back in 2015. That would be very good sign of solid bottom formation.
