Litecoin: LTCUSD Key Break Level
Litecoin is doing well considering the mess Bitcoin caused
yesterday. Bitcoin itself is making a reverse head and
shoulders, but Litcoin is displaying a different trick. It cannot
really be chased here, but slowly the bears are being rounded
up around that sloping dynamic resistance line from the highs
and soon the real battle will commence here. We can stand
and watch if not already long - and then join the victors.
It's likely to encounter problems between 278 and 293 - let it
battle away but keep an eye on it until we see a victor
emerge. Once 296 has been taken by the bulls it will be time
to get long again on any pull-back looking for a retest of the
highs at 347 minimum and more likely to 374.
Litecoin is doing well considering the mess Bitcoin caused
yesterday. Bitcoin itself is making a reverse head and
shoulders, but Litcoin is displaying a different trick. It cannot
really be chased here, but slowly the bears are being rounded
up around that sloping dynamic resistance line from the highs
and soon the real battle will commence here. We can stand
and watch if not already long - and then join the victors.
It's likely to encounter problems between 278 and 293 - let it
battle away but keep an eye on it until we see a victor
emerge. Once 296 has been taken by the bulls it will be time
to get long again on any pull-back looking for a retest of the
highs at 347 minimum and more likely to 374.