Litecoin. Going to $75 or Back to $30? Let's Look at the Charts! I Think $75
Technical analysis doesn't have to be scary. Here are some easy to read charts. We will start out with the Weekly look.
Everything looks like its on the up and up. Reminds me a lot of the Bitcoin Chart when it started its big run.
Lets zoom into a 3 Day Chart.
Some causes for concern but nothing to freak out about. That small red candle is what I call an "indecision candle" meaning its not giving us very much information. It could go higher or it could start its trek south again. I am watching the $42 mark. it needs to hold that level to squash any doubts. We have seen with Bitcoin that when things fall hard they can go all the way down to the trend lines before it stops. I pointed those out as well.
You can see Bitcoin came down on the Weekly Chart and touched the trendline before bouncing.
I am more optimistic. Here is why....take a look at the Daily Chart.
It's put in a really nice Flag Pattern. For those of you who don't know the rules of a Flag Pattern I will let you in on it.
If you measure the top to bottom of the Pole you will get a dollar amount. in this case it was about $25.
Next, the flag portion forms. You can see that in Purple.
If it breaks out of the top of that flag, so $49.48, The finishing of the Flag Pattern dictates it should rise the same amount of the Pole AGAIN.
That's another $25 which would give us $75 and that's where I think we are headed!
I am already long LTC but if it breaks out the top I will be doubling my position to ride the next wave higher. Not investment advice. Just having a conversation with my Steemit friends! Good luck to everyone with Litecoin positions!
I am watching LTC also and thinking what coin I want to "sacrifce" to get more LTC
I am already in. Plus there are clear parameters of when I would want to double up...$49.50. I use Coinbase for my Litecoin purchases so considering I have to wait 7 days anyway for them to hit my wallet I just buy and let my paycheck take care of it. I struggle Every Single Day about where to allocate my money lol. I wish I could have my salary fronted to me right now for the rest of the year! Too many good buys out there right now.
hahaha yes thats true. well cant catch all the fish at once. and there will be more then enough opportunities coiming up.
I hold some LTC but I kind of want more so clear case of FOMO
LTC is definitely on the bull trend.
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FINAL Call #litecoin to the MOON
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I agree that Litecoin is going to continue to do great, but I think it is premature to call for $75 just yet. My opinion is that there will be a minor market correction and it will settle into $32-36 range for a few weeks. But end of July, all bets are off!
Let's make a bet! if it hits $36 before it hits $75 I will give you a 100% upvote on one of your posts. Same for me if I win! Just for the record I plan on loading up on Steem soon :)
Sounds like fun!
Prepare to pay up 😁
Haha.. Goodluck! A Lannister always pays his debts!
Nice win. I owe you this!
It was kind of a lucky break. I'll be honest and did not see this bearish market coming so soon.
Well deserved. It took a dip before popping back up. I still like the price action.
I don't know anything about charts or trading, but whenever any asset has a big run up I am always leary of the pullback going forward for a long time after the price rise.
Incidentally, I feel the same away about steem.
i think its going to 75$ :)
I think that it will correct itself to mid 30 as well before going up. We shell see :)