ValueMyAsk

Is It Really Following a Pre-Bubble Trend?

COINBASE:LTCUSD   Litecoin / U.S. Dollar
COINBASE:LTCUSD Has officially recovered from its bulbous shaped bubble as of December 2018, the MACD showing divergence to the bearish market as early as August 2018. However, I am not convinced it has returned to the previous arcing trend. There appears to be a convergence of highs and lows that is a bit too conservative for what is a volatile asset.

I forecast that there will be a breakout downward followed by much volatility in order to correct for this rapid and consolidating growth pattern. The volatility is trending both up and down signaling a new move possible towards the end of this month, early next month.

I've marked what I believe to be the new support and resistance lines in yellow.

The general trend is still up, but a correction is in line first. In fact, I have proposed a crypto bull run early-mid next month in the linked articles thanks to Ethereum driving above 150. Litecoin will see a similar run, but not without taking a bit of a dive first.
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