Potential second breakout for Litecoin..

BTCE:LTCUSD   Litecoin / U.S. Dollar
We had a potential breakout for Litecoin previously, with a retracement of less than 20%. We should have another rally above $7.4 but was failed due to the declining BTC price causing a sell pressure on LTC.
As of now needs to overcome this falling channel before it can breakout above $7 to $7.1 again.

* StochRSI is swinging to the bullish side.
* Relative Momentum Index is picking up
* RSI is bullish

Good chance that we 'might' see it within the next few hours since we are pretty close to the $6.805 support* unless that breaks too.
Closed a few short position on BTCe.... gathering some at 6.2 - 6.35 for the dead cat bounce back.
Reduced my losses at BTCChina by 30% now...

now, fingers crossed and wait *** :)
LastBattle LastBattle
LOL... totally got out of LTC now via stop loss.
Its going to 5ish..
HerSerenity LastBattle
It's already been there, got some coins for 32.xx (gotta check again what average was). Probably gonna be despair-sold down to 31 then up.. hopefully huh.
HerSerenity HerSerenity
835.135 LTC at 33.1552, call me wolf of okcoin!

Still holding...
+1 Reply
HerSerenity LastBattle
If 3 double bottoms don't help the fourth won't do the job either :P especially with BTC dropping and the LTCBTC cycle still having 2 days to go (down?).
LastBattle HerSerenity
Yeah... LTC is strongly tied to BTC.
If it goes below 6.7 I will probably do a stop loss already...
+1 Reply
LastBattle HerSerenity
Lol crap, this panic is happening way too sudden without any negative. I can hardly sell 8k LTC in BTCChina with this orderbook without dumping it below 30 CNY.

I'm holding back from selling now... panic buy in a few hours.
+1 Reply
HerSerenity LastBattle
Right now last resort at 41.20: cycle lines for LTC and BTC positive, 2 outer Schiffs reached, bottom of downtrend channel.. only a madman would stop here :D
LastBattle HerSerenity

Nice, we bounced off the bottom support.
I'll keep looking out for this one :)
+1 Reply
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