Today I want to give you bit more technical details and will try to explain how we get there where we are at.
I realy like to write stories funny way but now let's try to be serious because its about money.
First I want to give you my catchphrase:
Trading Crypto is ten percent luck, twenty percent skill, Fifteen percent concentrated power of will, Five percent pleasure, fifty percent pain. And a hundred percent reason to remember my name.
This quote is from song - 'Remember the name' but I gave littel extra.
Now Litecoin recent and future movement. As u can see green took us from down trend chanel (red doted lines) up 234$ level and has shown our target 285$ (yellow doted lines) also that move created new trend chanel (blue doted lines) where the top line of the chanel is now our support line to achive our target.
Today I look at Line (bottom of the chart) to confirm the strength of this trend. We can see that we have been recently moving on the top parts of the diagram but last drop red line - selling presure - gave us little room to gain and touch 246-250$ but first we have to cross 217$ and stay above blue line. A/C show us at the moment we may be not strong enough to hit 285$ target.
Things can change, maybe conformation on rumor or new big players but please pay attention, more regulation or more bans on South Korean market can send Bitecoin, Litecoin and all the rest to hell so as you all see this can play both ways.
Sorry for giving you so much information and advices, I know today I write to much but I see people start to follow my analysis, so in return I want to give you little more.
Please remember we need to stay above blue line, sudden drop can push us down to test 195$ and then 175$ levels.
Traders please give me your feedback on what to improve or what type information do you expect, maybe more or less details.
This is for education porpose only.
Good luck and Good trading!