Hello friends, today you can review the technical analysis idea on a 1W linear scale chart for Litecoin (LTCUSD).
The chart is self-explanatory. I am reviewing the current and two prior cycle moves and reviewing the Fibonacci Retracement tool at the 0.618 and 0.5 areas (dead cat bounce zones). Assuming history repeats itself, the price has a potential to get back over $200 before moving back down. This is on the weekly chart so have patience, and anything is possible as history does not need to repeat itself.
I have various LTC charts in the related ideas below. Check them out as well!
If you enjoy my ideas, feel free to like it and drop in a comment. I love reading your comments below.
Disclosure: This is just my opinion and not any type of financial advice. I enjoy charting and discussing technical analysis . Don't trade based on my advice. Do your own research! #cryptopickk
This thing definitely wants to go up. Its struggling so much now because no one is putting any big money in it for it to go down. Imagine if it goes down to $70 or $60 this means big opportunity for people to make big profit. So most likely it will go back up to $120 then $130. So be patient for this stupid thing to go back up.