RE: LITECOIN (LTC) is Re-Approaching the 0.618 Fibonacci Zone Which Needs to Hold as Support
Technical analysis in crypto at this point is nothing more than guesswork. All these charts could not explain why Bitcoin went from 20k to 9k when it was happening. We now know about the MtGox trustee and the sell offs. Remember the analysis videos on Bitconnect and Dav. LOL. All made up crap using terms that are thrown around this space all the time. These wedges and pennants and flags mean nothing. Our market is pure hype and speculation at this point. Look at the companies whose stocks jumped up 300% just because they added the word Blockchain. Look how Nano shot up just by changing its name. Technical analysis cannot explain this. Guys, just do your research. Look at what these projects are doing or not doing and what news is coming. That's what boosts prices. Fear and confidence...not wedges.
When Bitcoin hit 18.9 @haejin said we'd see 8.2 as a result of the corrective wave when everyone was saying moon, yapping about lambos and talking $50,000 (John McAfee upping it to $1,000,000).
Everyone wants to be right. We have market manipulation that cannot be explained strictly by charts.