cheynos
Long

We need good news ASAP. The bigger picture+ my next move (LTC)

COINBASE:LTCUSD   Litecoin / U.S. Dollar
Hello everyone

Today I’m back with some more ideas, let's get straight into this.
So the bearish trend is clearly not over yet. What are the most important things to look at + my orders.

Graph
So what is this graph telling us?
We can see that there is a strong support-line at 51 USD. That is our next stop if you ask me. Why?
- the volume is ridiculously low and is not going up since may.
- there is no good news or rumours about any collaboration anymore.
- this graph looks terrifying if you zoom out.

I think that everything below 51 USD is a bargain for LTC. The only question now is: when is this bear market going to end? Now it's time to thicken your wallet or to hodl. We are now in a bear market since January. There will be a moment that the bears will go down (when the big players are not shorting crypto's anymore).

My prediction
I think that LTC will go down to +/- 51 USD and will find support at that level. Everything after that will depend on the volume .
If volume stays like this we will never go above our first resistance-line, let alone our second resistance.

my orders
I will be patient at this one, I will set an order on 50 USD. I can't imagine that LTC will never go above 50 USD anymore in the future.

News
We don't see any rumours or good news anymore if it comes to LTC. In the past there were rumours of collaborations with FB , Alibaba, Amazon, Uber and so on. We need good news and some rumours again ASAP . Don't get it twisted, I'm still very bullish for crypto in general, despite the fact that I'm convinced that this bearish trend will continue for a couple of weeks maybe months. This game is a marathon , not a sprint .

We have a great product in blockchain-tech. The only problem is that there isn't a problem in the financial space. We've found a solution, now we've got to search for the problem.



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comments and thoughts are always welcome
My orders are my thoughts and are no financial advice!

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