Litecoin Ignites Vertical for the Moon But Running Out of Energy
Litecoin hold cow!!! Freaking dang, it's having a stellar day. If you're in this one congrats, but I'd HIGHLY recommend selling. There's a daily RSI of 90 and it's VERTICAL on the parabolic movement.
Litecoin finally broke up and away from the linear trend line is has been following all Summer. LTC has fallen over 10% since it's ATH at 98.30 as predicted.
The scary thing is that there is NO tested resistance until around the $64 level.
Once again this is NOT the time to get into LTC as a buy long position. Look at all 3 verticals on LTC so far. They come down and find support at previous highs, so right now I'm still thinking we retrace to the 50% Fib level, but definitely see pulling back to AT LEAST in the low $60's over the week or two.
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Thanks! Followed back. Risk management has always been my weakest struggle! Lessons learned :)
Man, I sold my litecoins when it was 30's. I am so sad now.
I lost 387 on a hard drive back in 2015...... kicks self
NEVER play the shoulda coulda woulda game though. That FOMO attitude long term costs $$$$$$$
It's like a casino....be happy with profits. All of these bubbles WILL burst just like in 2013. And yes...we ARE in a bubble.
That really sucks. I am sorry to hear that.
I hate to hear people lose money like that.
I've been running scanners on my hard drive so still tiny tiny tiny hope I can find my wallet.dat file. Back in the day it was only worth like $1k so didn't prioritize it.
An 18 point run from $80 (what is that 23%) on the four hour chart was too much for LTC. It is tired....I expect some consolidation to take place here.
I agree...I am wouldnt buy until it crosses through $100 with some momentum....it might waffle from $85-$92 or it might pull back more.
I dont think the bears are in control but I do believe the bull needs a rest.
there's going to be major consolidation at this level for a decent amount of time. I think all the new money is already in. Unless there's a huge influx of people dumb enough to buy in these conditions, it'll come down and consolidate a little. Like I mentioned, support isn't until low $60s.