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.