This is an update to my day 2 LTC TA (see related ideas).
Thanks to the tether/btc fud, we are still in an extremely bearish market. Litecoin bounced perfectly inbetween my trend lines. It reached the buy zone i created at 160-162. I still consider this a good buy zone right now. But with anymore FUD this could go down even more.
I have current support at 157-160. I labeled a new buy zone (A), this is in the 158 zone. If we do break 160, i currently don't see it being for long and think 155-158 will be touched briefly.
The yellow line is the long term support line. If that is broken, i have labeled another buy zone (B) of where I think it might reach before bouncing back. This is in the 145 range. This will be testing our previous dip that we saw a few weeks ago. I currently do not see it going any lower than that.
Current resistance is at 180, but we will need quite the volume before we can see that again.
I will update this as the night goes on, espcially after President Trumps State of The Union address.
Thanks to the tether/btc fud, we are still in an extremely bearish market. Litecoin bounced perfectly inbetween my trend lines. It reached the buy zone i created at 160-162. I still consider this a good buy zone right now. But with anymore FUD this could go down even more.
I have current support at 157-160. I labeled a new buy zone (A), this is in the 158 zone. If we do break 160, i currently don't see it being for long and think 155-158 will be touched briefly.
The yellow line is the long term support line. If that is broken, i have labeled another buy zone (B) of where I think it might reach before bouncing back. This is in the 145 range. This will be testing our previous dip that we saw a few weeks ago. I currently do not see it going any lower than that.
Current resistance is at 180, but we will need quite the volume before we can see that again.
I will update this as the night goes on, espcially after President Trumps State of The Union address.
