Litecoin to fall a bit more (before rebounding at support?)
Updated
LTCUSD likely to fall to as low as 74-72 USD before (hopefully -- depending on the MAJESTIC-X indicator and RSI/STOCHS) finding support and rebounding to 83 USD, and hopefully continuing up to 61.8% Fib level at 93 USD in around a week.
Using the MAJESTIC-X (Momentum/Acceleration/Jerk oscillators) with the candle range set to "15":
The red jerk oscillator is now crossing the green acceleration candle, with all oscillators in then negative, hinting that the price has more to fall atm.
Need the Momentum histogram to start negatively peaking or plateauing, before prices can make a turn-around.
Will continue monitoring how the chart evolves through the week.
Indicators also used:
Fast LIVIDITIUM Low Volatility Channel {EMA} - dynamic support/resistance levels
as well as the
AEONDRIFT (with FUSIONGAPS indicators) - Stdev levels, with built-in indicators derived from the FUSIONGAPS oversold/bought oscillator and death/golden cross indicators, coupled with its momentum and accelerator based reversal indicators as well.
Using the MAJESTIC-X (Momentum/Acceleration/Jerk oscillators) with the candle range set to "15":
The red jerk oscillator is now crossing the green acceleration candle, with all oscillators in then negative, hinting that the price has more to fall atm.
Need the Momentum histogram to start negatively peaking or plateauing, before prices can make a turn-around.
Will continue monitoring how the chart evolves through the week.
Indicators also used:
Fast LIVIDITIUM Low Volatility Channel {EMA} - dynamic support/resistance levels
as well as the
AEONDRIFT (with FUSIONGAPS indicators) - Stdev levels, with built-in indicators derived from the FUSIONGAPS oversold/bought oscillator and death/golden cross indicators, coupled with its momentum and accelerator based reversal indicators as well.
Note
See earlier longer-term prediction (still valid, unless fallen below support)
Note
Re-posting of my earlier comment about LTC: Despite of the recent "fud", I still feel that LTC is a nice hedge against BTC since "Satoshi" very likely doesn't own any stupid amount of LTC + just in case Satoshi = someone like Paul Solotshi. But also have to count on LTC not dumping along with BTC if that turns out to be the case. I do believe that in such an event, after an initial brutal dump, we may very well see LTC (and other similar "currency focused" decentralized blockchains) decouple from BTC.
Note
Re-adjusted stop-loss to 76USDNote
Stopped loss triggered at 76USD awhile ago.Will not buy back in, and will wait and see for now.
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