Well that little bull run on Saturday was a tease wasn't it...
Back down we go though. Litecoin has been performing stronger than its main competitors which is a good sign, BTC is about to reach the 6000's and we are still doing relatively well in comparison with how LTC usually does when BTC falls.
Our first test will be 120. This is the lowest it reached right before that little bull run on Saturday. I think that is a good zone to buy, but of course it could go lower, so 107.50 will be the next test. If that gets broken, I would not be surprised if we see LTC below 100 again. If 100 is broken, I do not see it staying there for long. '
Our next real resistance is in the 160 range. If we do become bullish again, I don't see it being long and will see it bouncing off of there.
We are seeing lower highs being reached. On 1/29 we saw 197.50. On 2/04 we saw 173.85. If we keep up with this pattern, our next one will be around 151.50. Going off of this pattern, I don't see that being reached until 2/10, so we got a few days of this downward/sideways movement. Remember though, Litecoin/crypto can do anything so all of this could change in an instant.
I will keep an eye out on LTC and BTC and see if we touch support or go below and will update this if needed. Check out my previous days TA in the related ideas section and follow me if you would like.
Back down we go though. Litecoin has been performing stronger than its main competitors which is a good sign, BTC is about to reach the 6000's and we are still doing relatively well in comparison with how LTC usually does when BTC falls.
Our first test will be 120. This is the lowest it reached right before that little bull run on Saturday. I think that is a good zone to buy, but of course it could go lower, so 107.50 will be the next test. If that gets broken, I would not be surprised if we see LTC below 100 again. If 100 is broken, I do not see it staying there for long. '
Our next real resistance is in the 160 range. If we do become bullish again, I don't see it being long and will see it bouncing off of there.
We are seeing lower highs being reached. On 1/29 we saw 197.50. On 2/04 we saw 173.85. If we keep up with this pattern, our next one will be around 151.50. Going off of this pattern, I don't see that being reached until 2/10, so we got a few days of this downward/sideways movement. Remember though, Litecoin/crypto can do anything so all of this could change in an instant.
I will keep an eye out on LTC and BTC and see if we touch support or go below and will update this if needed. Check out my previous days TA in the related ideas section and follow me if you would like.
