SteveMaglio

LTC needs some external help to get out of the cage!

BITFINEX:LTCUSD   Litecoin / Dollar
149 0 1
Hi my friends! Reading other people's posts I'm seing a lot of uncertainty on LTC. To me there are a couple of clear points to consider: 1) LTC is in a downtrend channel with a lot of resistences above. We can see it navigates between two (one inside another) tunnels and once it gets on the top or bottom it could easily reach the opposite of the bigger tunnel except for last 17th January bottom which hasn't been able to reach the opposite side of its tunnel yet and now price looks getting contained into the smaller inside tunnel. 2)As I mentioned inthe previous post a triple bottom is still possible but I expect it to be on the 15th. That's before the end of the second week since Litepay has been announced. News have been saying Litpay launch is expected this week but that is not what the company has declared. They said the launch will happen in days and that, for me, could be before 2 weeks (Otherwise would have had more sense to say weeks). That might be the day that Litecoin gets an extra push to the upside and hopefully be able to break through the upper downtrend channel which has been last touched on january 6th             . 3) Usually at the third touch (in this case of the upper tunnel) the retracement could break or stay and that's when we're going to cross fingers. 4) The MACD is giving good signals and my chart brings to one date: the 15th of February.
A last tip...Buy as low as you can there and probably you'll not going to have to worry for a long time :-)
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