LTCUSD- Weak hands are gonna catch these hands!
So after a painfully dull bout of trading between the 140-148 range the past day or so, we've seen a little momentum up until just shy of 160. While things have been going slow, it appears that our drought may be coming to an end here. For those that want to short/swing, I see 166 region being an excellent place for a little flip down to approximately the 158 zone. from my experience the past few weeks, you want to trade about 1/2 dollars above and below the 5s and 0s (i.e. set a sell at 166/167, buy back around 158). There's evidently strong enough psychological support around the clean increments, as well as a little bit of tug outside of those numbers. That being said, if your game is to hold, then I say hold away for now. Volume appears to be approaching overbought, which would indicate a good short/swing, but other than that, all indicators seem to be bullish presently. That brings me to a point I want to discuss.
I've been seeing the bulk of people pushing for more downtrends, bearish behavior, dips to 80, dips to 50, etc. Listen, I would love absolutely nothing more than to squeeze one more big dip out of these trades, but I'm calling it nothing but FUD at this point. All the news and announcements surrounding Crypto/Litecoin are bullish in nature, and I see no reason why we would be expecting more dumps down. I would kill for it, but i'm just struggling to see it, truth be told.
I can't bring myself to call full blown bull run at this point, as rather I am observing and letting indicators do the talking, but I think there are going to be a lot disappointed people missing out on a rally up because they're convinced we're still going down, down, down. This past week has been FANTASTIC for short term flips, but we can only get so much out of it IMO. I welcome insight otherwise, but I'd definitely love to hear some thoughts.
I've been seeing the bulk of people pushing for more downtrends, bearish behavior, dips to 80, dips to 50, etc. Listen, I would love absolutely nothing more than to squeeze one more big dip out of these trades, but I'm calling it nothing but FUD at this point. All the news and announcements surrounding Crypto/Litecoin are bullish in nature, and I see no reason why we would be expecting more dumps down. I would kill for it, but i'm just struggling to see it, truth be told.
I can't bring myself to call full blown bull run at this point, as rather I am observing and letting indicators do the talking, but I think there are going to be a lot disappointed people missing out on a rally up because they're convinced we're still going down, down, down. This past week has been FANTASTIC for short term flips, but we can only get so much out of it IMO. I welcome insight otherwise, but I'd definitely love to hear some thoughts.
Comment:
Totally called the 166 to 158 flip B) Expecting to see possibly one more bounce down from right below 170 to 165 at least.