LTC went up very fast out of thin air. It reached what it needed to square up (red arrows). It took care of those sell orders and will most likely bounce off of that level ($236) and tank all the way back to its last level which is much lower ($150). It might even go as low as $120 to clear the orders down there as it needs to square that up as well.

There is also another (less likely) possibility that it will keep pushing to reach the next required square up ($300), which is also an even number (psychological wall).

I personally believe it will tank all the way to $150 area for a short amount of time which will give us a wonderful opportunity to get in. Look on the left when LTC first went from $90 to $360. Look at the red candles a bit later and their HUGE shadows that went all the way back to the last level before the initial move up. I believe the same thing will happen this time as well.

Follow me on telegram if you want to be updated on this trade.

Let me know what you guys think in the comment!
Agree on your analysis
+1 回复
actually, it wasn't out of thin air. it went exactly as predicted according to the reverse head and shoulders and the double bottom formations that occured. That in combination with the news of LitePay are the reasons we saw this run.
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