Updated Litecoin Chart

I missed a major trendline on my last litecoin chart. I've added that line and tried to be more accurate on the others.

I've mapped a potential direction on the chart. Another possibility is that Litecoin makes a major move and jumps above the trendline (bitcoin did this). If that happens I think we will see a push towards 175.

Komentarz:

It has been 2 months since I've updated this chart but all has gone as planned and hopefully some of you have profited on it. I don't think we have seen the bottom yet; however, we should see more of a bounce. As to how high it can go --- I'm not sure but we have have several levels of resistance that I am watching -- $102, $105 and then $110 for the time being.

Hope this chart has been helpful.

Komentarz:

This has been a pretty brutal drop for litecoin but we are right where I thought we would we be. We should see a fight to hold this level but I am personally sitting on the sidelines for now. If we lose this level we will probably drop down to the $172 level.

Komentarz:

Take a look at the RSI on the LTC/BTC pairing. This is the lowest litecoin has ever been against bitcoin. Over the next weeks/months I do believe litecoin will go lower; however, to do so the RSI needs to come up first. So, I have decided to open a long position.

Komentarz:

What do y'all think? Will we make it all the way down to the $50 level?

Komentarz:

Lots and lots of resistance here. I would not FOMO into a long position here.

Komentarz:

Litecoin is almost a buy. It should fall down and hit the wedge line that it broke out from and that should give a strong reaction. Still some falling to do but I expect a large pump when it hits there. Good luck trading!

Komentarz:

We hit the wedge line at 49.50. I have switched to long. let's see what happens now!

Komentarz:

Finally getting some relief! Not sure if anyone still follows this idea but, if so, did you go long at $49?

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