Cryptocurrency

LTCUSD RSI, Trend lines & Pattern evaluation

G’day readers, today I am taking a look back to my 100% profit Litecoin forecast. As we can see Litecoin has broken out of the Fibonacci zone, and although we see it residing inside again above the 61.8% line support is developing & I expect to see a new bottom of $100 for Litecoin by the end of 2018, which at this point is not at all far off.
It is worth taking a look at the RSI here as we are re-entering now the 20–80 RSI safety zone.

Following the trend lines we’ve seen a very steady progression for the LTCUSD pair. Right now we’re seeing an insanely strong rally for BTC, which is nothing out of the ordinary but none-the-less takes focus away from the Alt market & of course Litecoin directly. I think we’ll see support building atop this Fib pattern entering 2018, and truly believe that 2018 is the year of Litecoin. A look at Charlie Lee, who has continued to accrue popularity throughout 2017 on Twitter & his Litecoin programming & his intentions to finally up the Litecoin marketing regime, which we truly have seen little of from Lite as of yet.

Here’s a link to the TradingView post for a closer look.
https://www.tradingview.com/chart/LTCUSD/qfojW6zP-LTCUSD-RSI-Trend-lines-Pattern-evaluation/

I also run an open Discord server for Crypto discussion & weekly contests of Fantasy League Crypto. This weeks is a $25BTC reward for the winner. The invite link below
https://discord.gg/ChcZxDa




Source link

Leave a Reply

Pin It on Pinterest

Close