LitecoinLong
What I'm seeing in Litecoin: next resistance and targets
In the bigger picture (one layer up), Litecoin, like Bitcoin, either:
A: put in an orthodox low for Supercycle Wave IV, on March 17-18, or
B: Reached the low in February, and just completed the 1-2 of 5, of the Supercycle 5th and final Wave up, that will take us to new highs this year before a larger-trend correction.
So the current short term trend, similar to Bitcoin, is likely to be bullish, with progress interceded with the necessary setbacks (taking a breather).
The setbacks are more likely to occur during resistance zones that can be seen from multiple analysis angles. The next most likely big fight is at around $190-195. If this is true, we shall see consolidation (sideways trading) for a bit until the victor is decided between the bulls and the bears.
If $195 is successfully won by the bulls, it's likely to go to around $270, where the parallel channel converges with the red median line.
We shall see.
-AL168
March 21, 2018
A: put in an orthodox low for Supercycle Wave IV, on March 17-18, or
B: Reached the low in February, and just completed the 1-2 of 5, of the Supercycle 5th and final Wave up, that will take us to new highs this year before a larger-trend correction.
So the current short term trend, similar to Bitcoin, is likely to be bullish, with progress interceded with the necessary setbacks (taking a breather).
The setbacks are more likely to occur during resistance zones that can be seen from multiple analysis angles. The next most likely big fight is at around $190-195. If this is true, we shall see consolidation (sideways trading) for a bit until the victor is decided between the bulls and the bears.
If $195 is successfully won by the bulls, it's likely to go to around $270, where the parallel channel converges with the red median line.
We shall see.
-AL168
March 21, 2018
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.