LTCUSD: 1W Me thinks on bearish trend to $20 range again......
As above.
Rejection at $50 was strong (mid BB on 1W chart) and EMA, RSI, and MACD on 3D and 1W chart looking toward weeks to months of continued bearish trend. The lower BB on the 1W chart is in low $20 and will not be surprised if it touches that in the next few weeks to months.
Some strong support needs to be broken in low $40s and upper $30s but once a few good dumps happen it will burn through that support... as usual.
Can only imagine that if sub $20s happen this year.... then literally "lights-out" for LTC as all these multiyear triangles to the moon will probably be invalidated.
Will continue to watch.
Good luck traders.
Rejection at $50 was strong (mid BB on 1W chart) and EMA, RSI, and MACD on 3D and 1W chart looking toward weeks to months of continued bearish trend. The lower BB on the 1W chart is in low $20 and will not be surprised if it touches that in the next few weeks to months.
Some strong support needs to be broken in low $40s and upper $30s but once a few good dumps happen it will burn through that support... as usual.
Can only imagine that if sub $20s happen this year.... then literally "lights-out" for LTC as all these multiyear triangles to the moon will probably be invalidated.
Will continue to watch.
Good luck traders.