SUMMARY
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Take a look at this chart. Does it speak a crash scenario? Does it call for the end of Litecoin (LTC)? Would now be the time to be taking BUYING or SELLING actions? In which direction do you think the trend will be? Nearly five months of correction and yes, price can still go lower; but unlikely a crash scenario. Why? The SELLER population is not like what it was back in December; in fact, it's pretty much decimated.
Litecoin (LTC) MACD is very close to its apex given the symmetrical triangle pattern. I believe a breakout is quite close. The fact that the MACD movement has obeyed so well the boundaries of the contracting lines; a resolution is needed. Probability said that's to the upside.
Here is the short term, closeup. The blue impulse should start continuing in the upward direction. It should then decisively breakout of the bull flag pattern.
IF the impulse wave proceeds as projected, then a larger degree of trend Inverted Head & Shoulders could be patterned out. Thus far, volume would confirm as well. However, all of this will take time and nothing happens overnight.
Legal Disclaimer: I am not a financial advisor nor is any content in this article presented as financial advice. The information provided in this blog post and any other posts that I make and any accompanying material is for informational purposes only. It should not be considered financial or investment advice of any kind. One should consult with a financial or investment professional to determine what may be best for your individual needs. Plain English: This is only my opinion, make of it what you wish. What does this mean? It means it's not advice nor recommendation to either buy or sell anything! It's only meant for use as informative or entertainment purposes.
Please consider reviewing these Tutorials on:
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LTC can't do anything that 500 other alts can't do. They have nothing to differentiate themselves from the rest of the pack.
thank you
wow @sandmans, you are so rich.
My Friend, you are doing great analysis!! i definitely love it !
Thank you
Thanx for this information !
late to the party... let's hope it follows the rest and breaks through a couple resistance points.
Yea it really seems like sellers are decimated. There’s just not much profit in selling and shorts are still dangerous at this point. Today for example btc took an almost 3% dive in 30 minutes. That stabled and consolidated at just -1% give or take. A month ago that dip would have been followed by another 7% dip before partially stabilizing.
Great article and very informative, thanks for sharing. I've smashed the upvote button for you!
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Thanks Haejin.
I'm longer on LiteCoin than I am on any other coin at the moment. I do not see much more downside to it. Even if it does bottom-out, it'll be coming back strong - unless all cryptos tank. I don't see that happening.
It is possible, but unlikely that we will see a significant price drop.
-We currently have reasonably good media for Bitcoin - Christine LaGarde comments have been softer / more positive recently, for one.
-Sentiment is good at the moment.
-Technicals on the charts look ok - not perfect but ok
-Remote Seeing feedback is good.
-Context (Metaphysics Trend) is healthy - Consensus 2018 is nearing - usually a nice inflator for Bitcoin and thus other Cryptos each year.
-Deep Data Mining is still delivering good feedback.
-Macro economic trend line is still pointing up.
-Dark state maneuvers still don't look to be in conflict with Crypto progression.
So all in all - I am buying and Litecoin particularly.
PS thank you Haejin for all your positive work on Cryptos as usual
Don't expect a breakout with these low volume levels. Just keep watching/reading the news. When institutional monies come in, then the huge breakout will occur.
Flaggers get high off this.
They are thieves.
They need to be flagged as well.
They need to be banned.
Unfollow the flaggers!
Still, at a little over $100, it's hardly "risky" to be long on LTC right now. End of the year, anybody who bought LTC at current levels will not be sorry for a few months more HODLing.
Unless, you already know where the bottom is going to be at? Clue us all in!
The breakout on LTC is imminent and as always correlates to BTC up-rise in its price. @haejin
Why is this persons comment flagged?
Pretty obvious whats going on with this account. Any 'unsanctioned' comments are flagged; i.e. this account is controlled by pump/dump groups.
What? You haven't been here long, have you? This is just another day in berniebot land.
Ahh ok I was just curious because I haven't seen that account posting before.
⚠️ WARNING ⚠️
Haejin Lee is a well-known con man and Steemit abuser, stay clear of him and his technical analysis, please flag him and report him on any other social media platform he is on.
https://busy.org/@iknowwhoyouare/a-flag-for-a-flag
Going to disagree with you again here. You are not drawing the appropriate lines. This is clearly an inverse cup and handle (a bearish signal.) Hopefuly you are not following this advice because you will clearly lose a lot of money.
Where do you get inv Cup n Handle from https://www.tradingview.com/x/FFSEheC2
Where do you get a cup and handle from that? You're ignoring candles from the 11-12th. Good luck bro.
Also thats a totally different market. We're talking LTC, not LTC futures. Nice try.
I agree.
Not a big fan of technical analysis, but LTC!!!
unleash the bulls