Griffin0318

LTCUSD - Where the hell we going?

BITFINEX:LTCUSD   Litecoin / U.S. Dollar
LTC is currently fighting a three week resistance at $70-$72 with support at the $65-$61 range. There is the potential for a good buy in the $55-$52 neighborhood if support should crumble.

Next 6 months is more or less a consolidation phase for LTC. (look at September 2015 thru April 2016)

I would anticipate LTC to trade mainly between the $89-$62 range for a while before a move up in March of 2020. You could see wicks getting into the $100 area with down wicks to the $55-$52 range during this phase.

I'm not a professional trader and this is not financial advice.

Questions, comments, please let me know.

Griff

Thank you very much dude.

I suggest keeping track of this. In my oppinion LTC is a good long term investment. Look at weekly chart and an ascending channel is visible for it.
BAKKT is coming within 2 weeks. Maybe whales are going to dump BTC till then in order to be able to buy it cheaper. Consequently, a dump for LTC and other cryptos is possible, As you wrote, to 55$-52$. Then, within the next 12 months, LTC will go to 1k.
Remember BTC halving next year.

Of course I am not a pro and this is just a personal oppinion based on my researches.
Thank you and continue the good work.
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There's also the possibility of the Van Eck ETF being approved next month. If the ETF gets approved, I would expect crypto to accelerate higher in a shorter amount of time. If the ETF is denied, I think we continue with the consolidation phase. @Mike620,
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