LTCUSD- Speculative Nonsense, or a Plausible Outcome?
So I did my first analysis a few days ago, where I caught the incoming around the 181 mark, and I proceeded to call out the targets of 165, 155, and 144. We have thus far touched all of them, and I still believe that the EMA 50/200 cross is showing continued divergence. While my projected analysis is nothing more than speculation through a replication of the past week, I think the weak volume and strongly diverging averages indicate that there's some plausibility to this. I believe there is a likelihood of us touching the 95.60 mark around 2/06 or 2/07. I believe we have at least one more day of bouncing between the 144 and 135 mark, we'll have a few failed breakouts of a few dollars, then we'll ultimately head down to 95.60, as there's not much stopping us outside of a bear trap. I'm not trying to FUD or anything, but I think we should be prepared for this possibility.
Also with recent events occurring in the cryptosphere, there is an absolute possibility that we see a lull for the foreseeable future. One way we may look at this is a much needed correction after an incredibly bullish run. Another way to look at it is a replication of the 2014 dip we saw, where we have several years of quietness before another uptick. The latter may ruin some of our retirement plans lol, but who knows what can happen. If there's one thing I've learned, it's that no one is a proper oracle, and no one can make perfect calls all the time.
I urge you all to take caution in these coming days, as this will be a pivotal point for the future of crypto. Let's all hope this is nothing more than a very gracious sale, and that we can return to the cyclical fashion of 60 day bull and bear runs.
Thank you for anyone who has taken the time to read, and remember to trade safe and have fun!
Also with recent events occurring in the cryptosphere, there is an absolute possibility that we see a lull for the foreseeable future. One way we may look at this is a much needed correction after an incredibly bullish run. Another way to look at it is a replication of the 2014 dip we saw, where we have several years of quietness before another uptick. The latter may ruin some of our retirement plans lol, but who knows what can happen. If there's one thing I've learned, it's that no one is a proper oracle, and no one can make perfect calls all the time.
I urge you all to take caution in these coming days, as this will be a pivotal point for the future of crypto. Let's all hope this is nothing more than a very gracious sale, and that we can return to the cyclical fashion of 60 day bull and bear runs.
Thank you for anyone who has taken the time to read, and remember to trade safe and have fun!
God damn, what a run! That was definitely a little nerve wracking, I will not lie. Except a new support at 125. I think we're going to still bounce around 144 at least once more, then i could very well see us re-establishing 135 as a new resistance.