The market is going to break the uptrend line and 40.00 support level. It gives a signal of possible downward movement in borders of the descending price channel. The support zone formed by 36.00 and 34.00 levels can be a possible reversal zone. If the markets reaches this zone, we'll have to watch closely for price action. This support zone is very important for further price movement. If the market bounces from it, we'll get good confirmation for a new upward movement. But if price drops below this zone, we'll see downward movement to 30.00 support level at least or even lower. For confirmation the up trend we'll need a price breakout above the resistance line of the price channel. But before this the market will have to return above the uptrend line.
I am still long on LTC, bought between 37-48$. Should i hold this out? Are you expecting long term up movement again?
sadjoker
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@Filthy_, I am also long since 43 USD. Before the whole Bitcoin cash fad. Can't hold it forever ;(
nafnar
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@Filthy_, Wait until August, I think we can see a significant price increase :)
DLavrov
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@Filthy_, I belive in the bullish market in long term. That's why I hold long trades.
Jour
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@DLavrov, THX for all your analises. Great! I also agree with LTC bulish perspective for avgust and autum (and whole crypto busines)
The-Student
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If you are only holding ~$100 worth of LTC on CB wouldn't the $3 fee to convert to USD basically make you want to hold LTC and be long?
Brackins
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@The-Student, That's why you shouldn't be using CB for your buys and sells. Learn to use exchanges and find out the difference between maker and taker fees.
AshVecchio
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I think we're in a bear market and people are in denial. Really enjoy your updates.
kadufregossi
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hi Dimitri!
Do you believe this could be a bullish flag?
Thank you for sharing your knowledge with us.
Your analyzes have helped us a lot!
giannitsatown
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I have a feeling litecoin will hit $75 or higher by year-end.