LTCUSD has some violent but consistent % bounces of each crash low. The pattern is obvious now so I would look for it to break out of this wedge sooner than later. Looking for a clean break of 21.85 to see it head back to 30's. Inside the wedge with this last 133% run up it will probably need to just a little bit to recover some energy. Keep your eyes on this it could go this weekend.
Comments
Kazonomics
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As I warned yesterday prices were parabolic and 31 target had been reached from the low at 9 plus the move was extremely exhausted. All the late comers are now getting destroyed. Wait till they are all washed out of the long and you will have another chance to buy it...
Kazonomics
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31 Price Target has been reached! Awesome ride since before Xmas 6 pts and another 10!! Never worry about the news just read the charts:)
If I this helped you out please leave a tip thx
btc: 1JSHJLo4KnMK7gaJ1PobLEk7Bv3JodxqbC
CryptoCoinSolutions
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I joined the site recently and yours was one of the first charts I saw on LTC/USD. I learned a lot by coming back to this chart after following LTC/USD closely, and trading in and out and doing fairly well. I look forward to your continued work, thanks.
Kazonomics
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@crytpotcoinsolutions Happy to be of service. Feel free to bounce trading ideas off me anytime, on here, twitter, and stocktwits.. same user name.
Kazonomics
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I prolly didn't do a good job of explaining the chart for folks that aren't familiar with technical analysis. I shaded the red area as a pullback zone....its width is the expected time for bearish activity and gave a projection (downward purple arrow) toward the bottom of the wedge. I included fib levels for levels of retracement. We accumulated 0.764 Fib level for an average price of 16. The yellow circle marks the Christmas day breakout precisely by time and level at 21.85 which we added to when it passed.
We are all quite happy with the projection if you would like me to explain how to use it next time just ask. We have sold out of our LTCUSD positions above 24 and are looking for more buying opportunities either on pullbacks or even another break out from the most recent high. It should make it to the next fib level of 26.88 if it does and maybe beyond. Happy Holidays and good luck trading:-)