Litecoin crash coming???
Does anybody else see this possible head and shoulders pattern developing for Litecoin on the daily?
i started noticing this being a possible pattern a week or so ago.... and so far it has been outlining it pretty well.
I was buying it... but now that it is toping out near the last shoulder, i think i am going to either let the H&S confirm it self and let the price crash before i accumulate more... or let the pattern fail to the upside, before i continue to buy
What do you all think?
Lite coin seem'd like the safe haven coin during the blood bath the last couple weeks... now i see possible downside risk for it.
Honestly if I was analyzing. it wouldn't be enough of a timeline for me. It's also hard for me to see based on the possible chaos in bitcoin coming up.
Good point with bitcoin stuff.... it could easily rise and invalidate the H & S.... or it could fall and confirm it and then crash to sub 20
Technical analyses.... it's always right untill it's wrong, lmao!
That last line you said was dead on
Lets hope not.........
The buyer of litecoin in me wants it to crash... to get it on discount
The holding side of me agrees with you
Lol
LOL I get it..........the trick is to play the hand that we are dealt. Either way we win!!
I was thinking litecoin would be a good hedge for the uncertainty of the bitcoin fork Aug 1. I don't know much about technical analysis but I was curious if bitcoin becomes a faster/more-efficient platform, will there still be a need for litecoin?
Thats a good point..... from my research.... part of the bitcoin / litecoin debate centers around the figurehead vs no-figurehead... as litecoin has charlie lee but bitcoin doesnt have anyone
So you get litecoin getting updates reasonbly quick vs bitcoins 3 years for segwit
maybe not
Maybe not is possible.... price action hasnt confirmed either way yet
if they announce the lightning network on the 1st this could all change quickly.
Disagree with you, LTC has a great support in china, It was so clear for the past few weeks, LTC charts is still bullish and Uptrend, LTC will surprise you in the near future.
Thanks for sharing! I was just shopping on the Lamborghini Weekly magazine before I saw this so might reconsider that.
I'll take a look and share my thoughts on it later! Took a break from TA this weekend
I still say litecoin is a good investment.
I like what I have read about them. I like that as far as I understand this, litecoin and bitcoin are the only two that cannot be made centralized. What's there is there, and one cannot buy up the market of them and manipulate the prices like Wall Street and the COMEX.
But anything is possible, I'm now seeing more and more talk about gold backed currency which actually has something tangible backing it up.
Nice article. Good to see I'm not the only one that is thinking about this. The biggest group of uneducated investors in mankind get's a shot to determine the price of a crypto. It's an interesting world we live in. I really advice people to take a look at: https://www.coincheckup.com They seem to give this complete indepth analysis of all cryptocoins. Sorted by team, product, company, advisors, previous investors, etc. Check: https://www.coincheckup.com/coins/Litecoin#analysis For the Litecoin Report