Litecoin - Death Cross
Death crosses do matter, especially when they are about to happen in very important timeframes such as the 1D. They happen all the time on lower timeframes and they do influence the rhythm of price as they cross back and forth. What we are looking at here is an almost certain death cross by tomorrow on the daily, which you can't ignore, simple put what this means is that the 50MA (50 moving average in orange) will start to become resistance for a while. If that happens Litecoin will hit our crazy low buy zones. $68.00, $65.00 and $62.00. If for whatever reason it keeps going south it will hit our "Let's get rich" buy zone of $22.00. How will this scenario be invalidated? If we move up in one candle to around $91.00, how can this happen? If a whale steps in and buys a ton of LTC to get a rally going. To go where? To go up, ultimately to $200.00.
TREND: Going down and it could be pushed further down after the death cross tomorrow.
OUTLOOK: Unsafe for longs
Be safe and follow me to stay ahead of the curve.
TREND: Going down and it could be pushed further down after the death cross tomorrow.
OUTLOOK: Unsafe for longs
Be safe and follow me to stay ahead of the curve.
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