So what's price action telling me this morning. If you have seen my last 3-4 videos on LTC, you will know I was initially looking for price action to dip back below the $200 price point with a possible downside of $185-$170.
Well going into the weekend and over the weekend, price action had me thinking the downside would be limited to the $200, so I actually reentered the market on LTC. We have seen a spike down to $194.44 as of this update and price quickly sucked back up to just above the $200 price point.
It appears I was 3-4 days early on that dip although not quite as deep as I originally thought, there is the potential for that dip to mid $180’s in my opinion.
You can see in the snapshot that this morning’s move is clearly measurable based on the trend line break (pink line) and if we continue to see down pressure the next possible move being the green measure move.
Price action is back above the 200EMA on the 4HR, which is probably going to be solid support for price action. I’ll be watching the daily to see how we close out today and whether this move as just a quick reaction within the market.
Well going into the weekend and over the weekend, price action had me thinking the downside would be limited to the $200, so I actually reentered the market on LTC. We have seen a spike down to $194.44 as of this update and price quickly sucked back up to just above the $200 price point.
It appears I was 3-4 days early on that dip although not quite as deep as I originally thought, there is the potential for that dip to mid $180’s in my opinion.
You can see in the snapshot that this morning’s move is clearly measurable based on the trend line break (pink line) and if we continue to see down pressure the next possible move being the green measure move.
Price action is back above the 200EMA on the 4HR, which is probably going to be solid support for price action. I’ll be watching the daily to see how we close out today and whether this move as just a quick reaction within the market.
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Be watching to see how the day closed out here.
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See charts for notes
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BTC is dropping pulling down other cryptos... be mindful of lower demand level and great buying opportunities. At least that's what these dips are to me!
