LTCUSD likely to fall to as low as 74-72 USD before (hopefully -- depending on the MAJESTIC-X indicator and RSI/STOCHS) finding support and rebounding to 83 USD, and hopefully continuing up to 61.8% Fib level at 93 USD in around a week.
Using the MAJESTIC-X (Momentum/Acceleration/Jerk oscillators) with the candle range set to "15": The red jerk oscillator is now crossing the green acceleration candle, with all oscillators in then negative, hinting that the price has more to fall atm.
Need the Momentum histogram to start negatively peaking or plateauing, before prices can make a turn-around. Will continue monitoring how the chart evolves through the week.
Indicators also used: Fast LIVIDITIUM Low Volatility Channel {EMA} - dynamic support/resistance levels as well as the AEONDRIFT (with FUSIONGAPS indicators) - Stdev levels, with built-in indicators derived from the FUSIONGAPS oversold/bought oscillator and death/golden cross indicators, coupled with its momentum and accelerator based reversal indicators as well.
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See earlier longer-term prediction (still valid, unless fallen below support)
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Re-posting of my earlier comment about LTC: Despite of the recent "fud", I still feel that LTC is a nice hedge against BTC since "Satoshi" very likely doesn't own any stupid amount of LTC + just in case Satoshi = someone like Paul Solotshi. But also have to count on LTC not dumping along with BTC if that turns out to be the case. I do believe that in such an event, after an initial brutal dump, we may very well see LTC (and other similar "currency focused" decentralized blockchains) decouple from BTC.
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Re-adjusted stop-loss to 76USD
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Stopped loss triggered at 76USD awhile ago. Will not buy back in, and will wait and see for now.
Litecoin is in the process of decoupling from BTC already. LTC has been leading the market, where it went the others followed. Some believe it's because of the halving, but I know better. It's because LTC has been preferable to BTC for transfers to the exchanges; always has...
I don't expect it's going to follow the path of the last halving down to a new low from here. The smart money is getting in now ahead of the next run, and the fact that we aren't in the $30 range today implies a larger pool of "smart money" is betting on LTC than the last cycle.
I've seen this before, and the shape of the chart reveals more about the health of the economy than the price ever could. The chart is telling me that LTC has more interest today than at this same point after the last halving. That may not help day traders, but long term investors should see the opportunity in that deviation from the last comparable point in this markets history.
Seems the cycles may be accelerating...
BigBuxTrading
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Yes, absolutely, LiteCoin can decouple from BTC and be the premium retail and everyday coin for the masses... BTC can be the asset for large movements of money between corporations and countries.... LTC 'Silver" to BTC 'Gold' just as was originally described.... Come on Charlie, we're counting on you - make this happen!
I don't expect it's going to follow the path of the last halving down to a new low from here. The smart money is getting in now ahead of the next run, and the fact that we aren't in the $30 range today implies a larger pool of "smart money" is betting on LTC than the last cycle.
I've seen this before, and the shape of the chart reveals more about the health of the economy than the price ever could. The chart is telling me that LTC has more interest today than at this same point after the last halving. That may not help day traders, but long term investors should see the opportunity in that deviation from the last comparable point in this markets history.
Seems the cycles may be accelerating...