COINBASE:LTCUSD   Litecoin / U.S. Dollar
Litecoin is heavily oversold as indicated in the charts with the yellow circles. Expect a heavy rebound once the selling is over.

Comments

Litecoin has not completed its correction. Its broken through support at 38 and if it breaks 34 and 30 it may drop as low as 20. I would wait to enter long positions until a support level has been established and the MACD confirms trend reversal
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Ronin4nana LogicTrading
@LogicTrading, wait and you'll always be late to the party. How bout that 200MA break? haha
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LogicTrading Ronin4nana
@Ronin4nana, 1day charts still show bearish MACD, and support has been broken at numerous points including the 200MA break indicating a continuing downward trend. RSI is usually a good indicator of bullish reversal however the market has been oversold/saturated for the past week now as this is a corrective phase. However I could be wrong as the market is very volatile and if I am I have several buy stops in place to ensure I take profits on the bullish reversal we are sure to see within the next month. So no, I will not be late to the party, I'm maximizing my profits and I advise you to do the same.
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Ronin4nana LogicTrading
@LogicTrading How's that call?
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5 mins chart? LOL
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Ronin4nana Winthan
@Winthan, 60m
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Winthan Ronin4nana
@Ronin4nana, I know :P just kidding, coz every coins are oversold today.
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Ronin4nana Winthan
@Winthan, Some more than others.
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Ronin4nana Winthan
@Winthan, LTC has been oversold since the 23rd
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