As I've warned in previous posts, Litecoin is in a bear flag, and will likely head lower! Looking at the chart, we can see that LTC is now breaking down from the bear flag. This is a red flag warning of more downside for litecoin. We can see that price action has actually pierced the 200 EMA (in purple,) so it is likely to be broken in the near future. Also, the sell-side momentum on the MACD is increasing, and sell-side volume is overwhelming the buyers. If LTC has a sustained break below the 200 EMA (in purple,) look for prices to plummet to $200. To rescue this market, the bulls need to get back above the 50 EMA (in orange.)
***This information is not a recommendation to buy or sell. It is to be used for educational purposes only.***
@fortnbry, Thanks for the kind words! Nothing is for sure, but $200 is only $26 away, so it wouldn't take much. Just sayin'. Good luck trading everyone! =D
xxkillbunxx
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I really don't think so - zoom out and look at the bullish triangle and the recent development. Keep in mind that tomorrow we have LTC day AND the listing in DMM. I expect LTC to break through (meaning - i still agree to your posts a few days ago (buy signal)).
All the best from Switzerland!
@shermyeung, some mysterious date floating in the community a longer time - nobody really knows. But anyways - DMM alone will give a litte push with its 24 Million users starting to trade.
LARC
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@xxkillbunxx, I was just about say....zoom out and look at the rising wedge. Gonna blow the top off