LTCUSD is coming up to a critical moment in its recent trend, we're getting close to the angle where the most recent bounce happened that put us to the top of the channel (a descending wedge) for LTCUSD. I'm looking to see if support around 42-44 is strong enough to bring us back up to the top of the channel or if it will be shattered where I will be expecting some bounce opportunity buys in the high 30s. With a longer term target set on 29-37 or so which is our 50% retracement from the bull run on July 6-7.
Buy Fear. Sell Greed.
评论
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I misspoke 36 would be our retracement from the bull run in mid June. Apologies.
LTC 52/2 = $26 lowest, like the ETH 420/2= $220 and now floating around $185. BTC 3200/2=?
unitednoobies
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I think your more right than wrong about the downtrend play here. I don't see big money waiting on the sideline to support a price move up. I see players trying get in on a lower entry point. Maybe the price target will be 50 - 56 just maybe. Then I see a follow through with more selling than buying the price up. The bulls are just too weak right now. More traders are playing to hold. I see we might retest the support of mid to high 30s then a 40 -45 sideway move before a uptrend move. Also, I just don't buy the MIT August news, and also the hardfork BTC new will do more bad than good. People already got their cash in the market for the past couple of month. There won't be enough new money that are willing to take on the risk at its current price levels. What do you think?
speracado
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@unitednoobies, Absolutely. New money in Crypto is nothing on old money from low coin prices. Unless its institutional new money. We're not there yet. Love your write up.
Andy1
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I think it will go up with out any doubt, since it fell from $53 to $41, so, A real coin like BTC with Segwit and no hardfork or softfork issues, $12 down is too much for underestimated coin, so definitely will go up.
jpknapier
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I forgive you.
speracado
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@jpknapier, Hah, I'm tired and waiting for leave of absence to be approved at work, that is dragging on.