Chikun lead the way early in bull run but has been tired for some time now. With Bitcoin pulling back hard, LTC got the excuse to come back to ground. Now approaching critical support around 75, with strong confluence of fibs.
If 75 fails, then I will re-plot based on the momentum that breaks it.
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Decent bounce off expected support this far
Closeup shows the EXACT bounce off 75.35
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Bulls working hard to hold that 3.618. Break above the 3.236 would be good sign that a short term bottom is in
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So after much Fib-Pong, looks like we will retest 79.58 again, perhaps for the last time?
What is purpose of short term bottom in when long term are not in
EuroMotif
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@MonocoleDundee, Depends on time frame of trade and style I guess.
I look to start all trades as a scalp on short timeframe. Then trail a stop locking in profits.
Nobody knows the ''the'' bottom until way after the fact, me included.
So I look for ''every'' possible bottom to jump on, and see if it turns out to be ''the'' bottom later.
If not, then at least I make a few coins until next ''possible'' bottom appears.
UnknownUnicorn788630
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It won't hold, this is the end of the pump. Soon drop below $50. It is a fact, it happened just like this before in 2015 :).