In the bigger picture (one layer up), Litecoin, like Bitcoin, either:
A: put in an orthodox low for Supercycle Wave IV, on March 17-18, or
B: Reached the low in February, and just completed the 1-2 of 5, of the Supercycle 5th and final Wave up, that will take us to new highs this year before a larger-trend correction.
So the current short term trend, similar to Bitcoin, is likely to be bullish, with progress interceded with the necessary setbacks (taking a breather).
The setbacks are more likely to occur during resistance zones that can be seen from multiple analysis angles. The next most likely big fight is at around $190-195. If this is true, we shall see consolidation (sideways trading) for a bit until the victor is decided between the bulls and the bears.
If $195 is successfully won by the bulls, it's likely to go to around $270, where the parallel channel converges with the red median line.
We shall see.
-AL168
March 21, 2018
A: put in an orthodox low for Supercycle Wave IV, on March 17-18, or
B: Reached the low in February, and just completed the 1-2 of 5, of the Supercycle 5th and final Wave up, that will take us to new highs this year before a larger-trend correction.
So the current short term trend, similar to Bitcoin, is likely to be bullish, with progress interceded with the necessary setbacks (taking a breather).
The setbacks are more likely to occur during resistance zones that can be seen from multiple analysis angles. The next most likely big fight is at around $190-195. If this is true, we shall see consolidation (sideways trading) for a bit until the victor is decided between the bulls and the bears.
If $195 is successfully won by the bulls, it's likely to go to around $270, where the parallel channel converges with the red median line.
We shall see.
-AL168
March 21, 2018
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