carltonzone
Long

Watching Closely for Continuation

BITFINEX:LTCUSD   Litecoin / U.S. Dollar
I'm watching very closely at the 15-minute bars to see if we can continue to gain on the $150 level. If LTC continues to show higher lows on this level, there's a chance it will gain towards $190. I still think we are in the overall downward channel . I was looking for a continuation from the $169 high, but it is regaining. There wasn't enough support to reach $190, and this could be a good thing. Running higher from the $169 was weak. It's just not ready. But if LTC shows higher lows on the 15-minute candles, it might break the recent $169 high and continue to around $190. At that point, I will play it safe and sell. I don't think enough consolidation has taken place to push farther beyond $190 IF it holds today. My gut feeling is that we don't have enough consolidation to break out to a bull market. We're still mirroring BTC             , and there are still many opinions from experts saying that BTC             has not finished its correction. I don't see LTC diverging from the lead of BTC             . There has been a lot of talk about BTC             not completing the bear trend until it falls to $5,000. That's why we have to watch BTC             closely, and follow the predictions of when BTC             will end the bear trend. My current safe strategy is to sell at the next high, and then get off the bus until the final correction takes place.
Comment: I'm losing confidence... not looking good. We poked straight through that support line. Lower-low on the 15-minute bar chart.
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