Is LTC about to move?

Looks like a classic pendant. Volume supports it. We may see major movement in the next 1-6 hours.

It's entirely possible this is going to break down -- the top lines up perfectly with our $252 resistance line on the daily:

But even if it tanks from here? I'm feeling pretty good about the consolidation. Means we have another target going forward, and another floor if we go up.

Next major point after 252 will be 288. Followed by the psychological 300.

評論:

Oh and our strong support is around the 209-212 range. So if we do drop hard we should bounce back from that pretty easily.

評論:

And broke down with big brother btc's help. That said, BTC is near the 12220 support so I expect a nice bounce soon.

評論:

Very short term support at 232. Won't be enough if BTC tanks, but will help us if it's just LTC volatility.

In case of a big fall we're still supported by 209-212. I'm not a betting man, but I don't expect to see under 200 soon.

評論:

BTC is still tanking and has broken through 11225 and the top of the previous channel. Meaning it has room to fall until 10280.

Here's where we see if LTC' has gained some autonomy from its big brother. If ~209 proves to be a strong resistance then you can expect to see LTC' start to diverge from BTC' the same way ETH' does. If not? Well we'll still be coupled at the hip.

評論:

Looks like we got our independent bounce (a bit lower than I expected, but still same ballpark).

Welcome to a new age -- LTC is starting to act independently. This is a great sign for those of you who believe in this coin.