Lots of uncertainty going on in the markets, haven't closed over the 100MA since 2015. Lots of people are used to shorting fear, the tides have changed.
I remain long to 90 area as of now.
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The market had been hit hard with almost a 10% correction in a matter of a few days - The VIX surged over 100% which was pretty historic and billions of dollars were wiped out. Market had lost over a trillion in value during this drop. Nobody seems to know why it has been selling off which is a big red flag to me.
The 200DMA held, seems like the uptrend is being confirmed after the massive breakout against BTC the past few months. Looks like that bullflag on LTCBTC is breaking up massively today. If we can break ATH's we should see fireworks this year and Litecoin should be favored over Bitcoin.
I still think LTC is in a bear market. Yes we've seen some nice rallies off the lows, but I think this rising wedge is close to playing out... we'll see how it plays out.
My target is in the 40's range if it plays out.
Expecting to see a range bound between 55-60 in LTC for the time being until we break above the long term trend line. However if we break yesterday's low it should be warranted with caution and could confirm a bear market.
If we just saw the recent bottom then the gold bull market started in late 2015, this could be one of the most powerful wave we've seen in years for gold. Is it a coincidence this lines up perfectly with a Trump presidency? We'll find out...
GDX broke out of it's downtrend channel not too long ago, also important to note that the 10ema crossed over the 20ema which is a bullish indicator. Right now it is trading sideways and consolidating and I am a expecting a move higher in the coming weeks. Anything under 22 would be a gift and stops should be placed if GDX gets back into the downtrend channel or...