LTC / USD Where is the bottom?
If you follow LTC, or any cryptocurrencies...it's been a rough month. It's hard to believe so much can transgress over such a short amount of time. Looking at the charts, just about every level of support has been broken through during the correction. For the past week there's been accumulation in the 174-184 range. The trend line broke this morning, and we should see a drop to the next stop, the .786 Fib line at 163 level. Hopefully it will hold or bounce, or we could see a major drop to the last level of support in the low 130's (blue line) between ATH and the 0 fib line. If that doesn't hold, the bottom of the 0 fib line from the Dec 12th run to ATH sits around 95. Even the most faithful HODL'ers have been tested to the nth degree, and the latecomers have taken a bath or sold out and exited the market. It feels like the bottom is in sight, and we should see a bounce or a massive correction/collapse within the next few weeks. At this point, the faithful LTC HODLers have to trust that Charlie is working towards helping align with others to work towards mainstream adoption of the coin before some other ALT takes the prize. Those who have FIAT should be in good position to take advantage of this major correction, but when do you jump in? 163, 134, or 95.
NOTE: This is only an idea and not meant to be any form of investment advice. Good luck to all.
NOTE: This is only an idea and not meant to be any form of investment advice. Good luck to all.
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