olivernash

LTCUSD - chart for larger potential coiling

BITSTAMP:LTCUSD   Litecoin / U.S. Dollar
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Here is the larger scale potential coiling of LTC mentioned in an earlier idea. Though waiting to be tested again, the support seems strong.
With all the excitement and popularity these days, crypto-coins don't seem able to maintain stability for long. So, it looks quite likely LTC will breakout sometime before the 20th January as its price amplitude gets too narrow, but which way will it go?
Comment: Looks like the coil broke and the breakout came. Watching to see what the big money does after the panic selling fades. There is still the potential for this to be a spring before an upthrust, or if not some nice retracements to catch on the way down...
im scared of macd
+1 Reply
olivernash janek.bobula
@janek.bobula, it doesn't look good does it. If you switch to the 1day view, the macd has been falling since late December; it looks like during that fall a few attempts were made at breaking the support, with less force each time. If it's next attempt to fall through the support is weaker than the last, then maybe it becomes more interesting than scary?
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