Having near 100% accurately forecasted litecoin to hit $120 [see my previous analysis], I am taking another stab at where next it will go...
Good trading opportunity for traders and investors coming up.
1 day timeframe - Forecasted Lowest dip for a good buy - $30 - Forecasted highest rally on D leg of cypher for a good profit- $315
Litecoin looks like it wants to do 2 100% retracements which are either back to $105 or back to $31.
A) If price breaks up above the blue trendline and rallies strongly above the 23.60% Fib level [$168.86] we'll still be aiming for $315 but I will update my analysis.
B) If price doesn't break up above the blue trendline, we may be looking at hitting $31 on the C leg of the cypher before a rally up to $315 on the D leg.
- Forecasted Elliot waves + fibonnaci levels allowing for re-entry and take profits
Note: Most of crypto is driven by fundamentals which may throw this forecast upside down !
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My Previous Litecoin forecast.
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Price has broken up above the blue trendline but is struggling to break up above the 23.60% fib. Let's see if it crosses this Fib level
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Price hasn't managed to go above Fib 23.60%. It will now attempt to retest the blue trendline. If it goes back into the blue trendline, we'll enter a $30-100 price zone.
At this moment, I am doing nothing, and simply observing
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My first buy arrow has been achieved. Price is now following my second arrow which is a sell. Lets see how this unfolds
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Price is going back to the support level of $106. I doubt it will hold this time around because it formed a lower high on the 23.8% fib level. looking to buy when it goes lower
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Price action at $98 now and the candles are looking brazenly bold red. Perhaps we'll get our buy opportunity sooner than expected
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Price action at $76 today. Keep going down so we can all buy low and moonshot!
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Price action at $51. We are getting closer to our stock up price!!
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$33 now. I re-entered at 32.40. If it goes down further, I’ll enter again.
LTC price 120, BTC 7k. Feb 6 LTC 104, BTC 6k. LTC is the only coin going down with the same ration as BTC. All other coins are 20% below Feb 6 lows. So your analysis is bad and just FUD so you can buy lower. You scare the kids, not the HODLers
cryptdee
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@GazMema, This isn't fud. it's just analysis. No one has to take it to heart so please calm down.
GazMema
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@cryptdee, LTC is at a very low price...this is a time to buy. When LTC goes to 250, 350,450, that is a time to sell. Experts say the opposite and that's how you lose money
cryptdee
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@GazMema, OK. Stick to your analysis and I will stick to mine.