MagicPoopCannon

Warning on Litecoin! (LTC)

BITFINEX:LTCUSD   Litecoin / Dollar
Hi friends! Welcome to this quick update analysis on Litecoin! Let's get right to it. Looking at the four hour chart, you can see that LTC has pierced the support created off of 2/23's low. This is very negative price action, that could lead to a more significant decline. You can see that LTC appears to be in freefall at the moment, as it races toward a support zone (blue box.) If we break below there, the next level of support will be the 78.6% retrace, at about 146.50. The current rollover looks very similar to what we saw from 1/15 through 1/17. This negative action could produce much more downside. A close below the 181.77 level, will increase the likelihood of further downside. You can see that the 50 EMA and 200 EMA are converging like they want to cross, so we could be gearing up for some major selling here.

This has been your not-so-humble market wizard, droppin' knowledge like bombs in this place! Please follow, comment, like, and share on social media. Good luck trading everyone!

***This information is not a recommendation to buy or sell. It is to be used for educational purposes only.***

-Magic loves you-

-JD-
Your analysis use to be good, now they are just turning into random lines. You drew a random curve/cup...
+6 Balas
CryptonBill analysing
@analysing, u see what happened up there? lol. the poop has spoken! *puff of smoke*
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Just now at 6:49 AM Eastern....
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this?
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LMFAO! What happened to that inverse H&S? All those who complemented this guy and thought we were haters are now bag holders! Way to go gang. Just HODL for 2 more years you will be fine.
+4 Balas
MPC Always gives you his vision and thoughts . We also always gives us both views , up and down possibility . He never implies to buy or sell your holdings just helps you see diefferent paterns in the market .
Thank you MPC for all giving me your knowledge
+11 Balas
aaronfarris maclean.brian
@maclean.brian,
agreed
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Just great...took a $500 loss selling LTC based upon this warning. Only to see it rise now. I'm done listening to mooners and doomers on tradeview.
+8 Balas
Cryptoscrooge smashfootball
@smashfootball, "***This information is not a recommendation to buy or sell. It is to be used for educational purposes only.*** "
+7 Balas
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