LTC/USD is now a Long Term look

16 ene 2018

Excuse the messy chart. It is what it is. Seeing an overall correction in the crypto market, and LTC is no exception. Time to zoom out to the 3 month chart because we broke below the Dec 21st 0 Fib line. Now we need to consider the early Dec ATH Fib. The .786 line is in the 165 range. Also, a triangle has formed, and hopefully trading will stay in the triangle for the next week with a chance to breakout. Additional blue horizontal lines show minor levels of support during the 12/21 drop. Note: After each bull run we've seen a downtrend follow, and then it bounces back to an uptrend with a breakout. Let's hope this is the case. The early Dec .618 fib line i around 220, and the .5 would jump to 258 range. Be careful out there. Potential day trade opportunities for small gains within the triangle if you don't get greedy. This is not investment advice, just an opinion. Good luck.