Litecoin is UP today, could it be in for a new liftoff?
Here is the daily LTC/USD chart.
The Superguppy show a tight grey group of moving averages, but widening down.Also the blue Trend Break Arrow Alert is telling the bears may not yet be ready, but need to be confirmed.
I have lined up a couple scenarios here, within a support/resistance based triangle.
A break in the support line can send LTC below $100 again.
Litecoin is traded below the 1d Ichimoku cloud.
Short term looks better. We are trading up into the Ichimoku, and the traders group of Superguppy are tightening up in a grey area. The long term red investors group are not yet convinced about the price going up.
This short term bullishness could result in the green D in the triangle being made.
These are just my thoughts, not a trading advice.
If you have another view on this post your welcome to discuss and post your charts in the comments.
If you'd like my technical analysis on another coin, please ask in the comments.
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I like LTC and would be happy to see it going up. There is a lot potential for Litecoin this year.
I think so too. LTC got lot of the tech already set up just waiting for the others to join in the upcoming crosschain DEX party. It is going to where no regulations can rule, and it can not be stopped.
nice post @
It really is amazing to me how many people are panicking. If people would learn from history, this only gets worse the more people panic. If people calm down be patient it'll resolve itself. The value of my investments are all dropping, but I'm not pulling them out for anything. I know that this is going to turn around and go back up and I wish other people would realize that as well. In the long run it'll be their loss my gain. I'm grateful to all the others who are keeping their heads and waiting this out.
This is the way market goes everytime. People have faith until they loose it.
And it is so easy to sell at bottom, because the news and all blogs cover more bad then good.
If you feel an urge to sell before it fall even more, it is probably the best time to buy
I see the support line pretty close, and we'll probably bounce soon.
Absolutely. I see it as a buying opportunity and did exactly that!
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