Litecoin crash Update!
Just wanted to give an update on the head and shoulders pattern that Litecoin is forming.
As i mentioned in my last post here
The Head and shoulders pattern looks to be almost inevietable now.
I forgot to mention in my last posts, but those who dont know... a head and shoulders pattern is known as a reversal pattern... and is considered formed once the price breaks below the neckline. It signals a major reversal in the trend (in this case... it is very bearish for LTC).
Because of the long wicks, i would think if breaks below the psychological line of 37..... LTC could easily drop into the 20's (and ill be buying on the entire way down lol)
Hope everyone is enjoying these crypto summer sales going on :P
Like always please give this post an upvote and...
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The Bitcoin test net could suffer after proving success
I think the recent run up pf BTC is probably from people buying it hoping to get some free BCC
try it again
?
Solid analysis, I'm long LTC and with the MIT news coming soon I expect a massive pump of the price after it falls, but anything is possible in crypto land.
Lol yeah i am long term bullish on LTC, i have a little.... but mostly am waiting dor a big drop to get a whole bunch :)
I'm with ya! There is good logic here...
Thanks!
Good report just got to keep some funds on the side to pick up the good buys. Upvoted and Followed.
Thank you! And yeah thats the plan :)
We'll see what happens... I'm very bullish on LTC in the long term. Aug 1st will be quite entertaining, with people trying to greedily get as much BTC as they can to get BCC. Of course the prices will crash and I expect LTC to rise. Of course, no one really knows. But I'm happy just keeping my biggest positions in LTC, not interested in getting any "free BCC" personally.
Me too.... im making a core position around LTC :)