Lightcoin back down to the most recent cycle trend line Sub $120

2024年12月18日

After an explosive mid day, lightcoin jumped to $130 from a low of $114 USD per coin only to sink back down to Sub $118 per coin later in the evening. Looking at the trend line this cycle, lightcoin has stuck closely to this area. The question is... will it break down or will we see a repeat of the last two cycles with a jump to over $420 per coin. For long term holders of LTC this cycle, a run to $420 would be a massive profit.

The talk of an ETF may do the trick or is it an attempt to revive a dying alt-coin. As they say, buy the rumor, sell the news.

For me, I have to say, with a jump and then drop like what happened today makes me think twice about purchasing this coin. It could make you rich, or make you broke. Trade with caution.

Good luck all.

2024年12月18日

取消訂單

LTC has temporarily broken the lower trend line hovering around $115-$117 per coin. It has not sunk lower so I expect it to rebound above $118 and hold the line, but it is too early to tell.

BTC is forming a head and shoulders pattern at the top, so if BTC goes, LTC may go lower as well. Its also possible this is a fake break of support.

Crypto related stocks and ETF looks as if they have been in a distribution pattern for awhile now as well. Anything is possible.

No current open positions in LTC. I closed my BTC and Coinbase positions a week ago and took profit.