I watched Litecoin over the the last 3 weeks, wondering if Litepay can affect the price significantly. Bought some coins and waited for great . But nothing has happened. Of course if someone bought at $110 and sold at $250 then the yield was around 130%. But is it something we were waiting for? I don't think so.
I think we just have to admit, that we are in a correction time. Not only on Bitcoin . Whole the market needs to retrace after december bullrun.
So if Litecoin is retracing, where are we exactly?
I think we are due the correction and the vawe C is forming.
We are falling down within the green, descending . I've marked the main with the yellow line where we might be heading to. It's at ~$75. Pretty cheap. I don't know if we can get there. All depends on the King - Bitcoin ;)
But if we hit the bottom at $75, where will we go? Fibonacci points at ~$680. "Now you're talking" you think ;)
And it may happens in this year! I hope so. Do you?
And please remember - this information is not a recommendation to start a long position. It's for educational purposes only.
Share with me your thoughts please :)
we are going to get somewhere close to the "C" point of our correction.
And then, if we're about the next bullrun (maybe the 4th quarter of 2018) this prediction ~700USD may be possible :)
What do you think?
If we're OK with Bitcoin the sideway movent should appear now. It might be an accumulation zone what is a start to new beggining :) New hope :)
As i stated before, after we breake all the resistance lines we may hit ~700 USD. Just don't expect it will happen in 2-3 weeks :)
I'd say buy and wait, but this is your decision and you should have your own plan and stick to it. You should never invest money that you can't afford to lose!