Crypto Analysis Report 6-15-18 Litecoin...The Buyers Are Between $70-$80
I last spoke about Litecoin over one month ago,
I stated price was following my projected path to $210, the next battle with the sellers was at $180, but price was in the middle of the curve and in an uptrend, was expecting another pull back at $180, but ultimately price would get to $210.
Unfortunately, the sellers won the battle at $180 and pushed price all the way back to a sub $100 level.
This level hasn’t been seen since December. I have checked through all my post and I have never talked about this level because price never got back to this level until now. Price is low on the curve again and within daily and weekly demand. I think Litecoin is a great buy opportunity for long term bulls down at$70-$80 for the following reasons:
*Price is low on the curve, price likes to go from one extreme of the range (low on the curve) to the other extreme of the range (high on the curve).
*Price is sitting not only within a daily demand zone, but also within an weekly demand zone as well.
*Price told us there are a bunch of unfilled buyers when price came down and quickly shot back up on February and formed a floor in mid April.
*There are a ton of unfilled buy orders sitting between $70 and $80.
Because sentiment has been so low, what for some type of confirmation as such as RSI breaking the down trendline (the red line). However, I will be sure to provide an update if price gets down to the $70-$80 range.
This post is my personal opinion. I’m not a financial advisor, this isn't financial advise. Do your own research before making investment decisions.
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I really like the prospects for Litecoin as it is quicker and cheaper than Bitcoin in many payment scenarios. I have been holding for a while and looking to add as I also use this asset to move between exchanges to buy other altcoins. Thanks for the visual TA!
Thanks @newageinv. I use to really like Litecoin when I came into the space and had it as part of my portfolio. I think they have a great spokesperson in Lee and agree, great for transferring/exchanging for other coins, but then I gravitated to the infrastructure plays. Nevertheless, I think Litecoin will do well long term.
Great post @rollandthomas! Followed and upvoted! Check out @atimk23 for useful news and things about CryptoCurrencies and Blockchain technology! Have a great time today! Cheers.
Great analysis.