After several hours looking into why I didn't see the Litecoin pump, I came to the conclusion I was looking at the wrong charts. LTCUSDT and LTCBTC are not really that important anymore (and those were the ones I was looking at). The important chart is really LTCCNY, considering China is exploding in volume and the Technical Analysis trend is quite easy to predict there. Check out the rising channel here. It looks hyper bullish.
Right now there are two options. It either continues to go up and reaches a resistance in the upper line of the ascending broadening wedge, or it goes down and bounces to then continue going up.
There is a smaller chance that it ends up breaking down to 235 CNY.
I haven't bought into the current rally yet (although I bought the pump three weeks ago and sold near 350 CNY / 46 USDT). Waiting to see if this goes up or down to decide if I should buy now or wait for the bottom to buy in.
Good luck :)
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Right now there are two options. It either continues to go up and reaches a resistance in the upper line of the ascending broadening wedge, or it goes down and bounces to then continue going up.
There is a smaller chance that it ends up breaking down to 235 CNY.
I haven't bought into the current rally yet (although I bought the pump three weeks ago and sold near 350 CNY / 46 USDT). Waiting to see if this goes up or down to decide if I should buy now or wait for the bottom to buy in.
Good luck :)
Check out my signature for my Free and Premium Groups/Channels.
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I expect LTC to reach 600 CNY or 230-250 USD before February next year.
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I would like to clarify that where I wrote "ascending broadening wedge" I should have written "rising channel".
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I correct the previous statement. I expect LTC to reach 600 CNY or 88 USD in the upcoming months. Maybe won't be too long.
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I think it's going to break down.
