Now, let's look at Litecoin! As you all know, I have been screaming from the mountaintops, that if the $200 level was lost, we would see accelerated selling. Looking at the chart, you can see that LTC formed a (black flag,) broke down, and sent prices screaming down to my $150 target at the 78.6% retrace. As expected, the buyers stepped in and launched LTC higher, closing a strong looking candle back inside of the . However, it still hasn't broken above the critical . So, don't get too excited just yet. We may simply be confirming the "critical support" level as new overhead resistance, and that would mean that this selloff is NOT over.
As you can see, the last two candles on the chart have unsuccessfully tried to get above the critical level. If this continues, LTC will definitely turn back to the downside, to continue heading lower. Looking at the , we can see that it's printing some heavy momentum, so the sellers still have an edge. In fact, until the bulls get LTC back above the critical , the bears can easily, at any moment, force this weak market lower. On the downside, look for a breakdown from the , and continuation selling that sends LTC back to the $150 handle. Beyond that, prices could fall all the way to $127, and then $105. On the upside, the bulls have to get back above the critical support, and preferably back above the 50 (in orange) and the 200 (in purple,) which are forming a Death Cross, by-the-way. So, keep your eyes on the $200 level. If we can't break back above it, look for further downside.
This has been your not-so-humble market wizard, droppin' knowledge like bombs in this place! Please follow, comment, like, and share on social media! Good luck trading everyone. Peace!
***This information is not a recommendation to buy or sell. It is to be used for educational purposes only.***
1) If they go down and out, where else could we withdraw funds as USD and transfer to our bank account?
2) If you end up making 1 million dollars (I don't have 1 million dollars) how can you withdraw that much out? Coinbase has a limit of 15k to 100k a day. 1 million would take a shit load of withdraw. How does million/billion crypto holders do it?
Keep the good stuff coming, it's always appreciated!
It worked today, I was able to purchase at $160, $150 and $145 (ladder buys). So I can confirm holding cash in your portfolio works (coinbase).
I can not speak for sure about deposit from wire transfer, bank transfer or credit card during peak hours, but cash (USD Wallet) worked.