BITFINEX:LTCUSD
Two days ago I charted the coin to go down then little pull up until it meets support at pink line. If all the bars are red till the coin reaches the support, it is more likely to pull up till resistance of $100 pink line without a minor pull up and retest at $52 pink line. Looking at the 20ma and MACD, it is more likely that there might not...
The BITFINEX:LTCUSD has entered below 20 MA (blue line) indicating bearish movement till support of two pink lines. MACD proves to be bearish as well.
Once it reaches the pink support level, the price action can have two movements:
1) a little bull run and retracting to 200 MA (gold line) around $52. Then making a big bull run to $100 resistance
2) big...
ABCD pattern continues. early then I expected in my previous idea. however, now I can say C to D pattern shall continue until it reaches in the supply zone in pink. Later, depending FEDS interest rate outcome. I would wait to see if it rallies or sink now to demand zone in purple. hence long for now, short later. or wait for now then short later. give a thumps up...
The down trend from B to C shall continue till it reaches the demand zone in purple. Then forming C to D pattern as long till it reaches the supply zone in pink. What do you guys think?
