We are approaching critical support areas right now. If we dip below $125, then we have broken our main support from last huge drop to $106. If this happens, then it is possible we can see the mid $110's again, and even a retest of that price point.
For the last two days, we have just been bouncing off our . This is a classic pattern of lower highs and Lower lows. If we continue like this, then we can see a key test of our main support sometime tomorrow / early Friday. If we stick to this pattern, we can expect a quick bounce off of the upper $127's / lower $128. We will then see a bounce back up into the $134's, in which we will fall back down to testing our main support.
To break out of this falling pattern, we need to first break the last resistance touched, which was $139.20. If that occurs, be aware of a possible bull trap, but if we have the following it, and manage to break $144.50, then the pattern can be confirmed broken.
I really do not want to see our main support broken, but this can be a great buying opportunity because if it is broken, I don't see it staying that low for long at all.
Remember to keep an eye on on the and the BB to give you an idea on which way LTC / other cryptos might be heading depending what time period you are looking at.
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