Litecoin Ignites Vertical for the Moon But Running Out of Energy

in litecoin •  7 years ago 

Litecoin hold cow!!! Freaking dang, it's having a stellar day. If you're in this one congrats, but I'd HIGHLY recommend selling. There's a daily RSI of 90 and it's VERTICAL on the parabolic movement.

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Litecoin finally broke up and away from the linear trend line is has been following all Summer. LTC has fallen over 10% since it's ATH at 98.30 as predicted.

The scary thing is that there is NO tested resistance until around the $64 level.

Once again this is NOT the time to get into LTC as a buy long position. Look at all 3 verticals on LTC so far. They come down and find support at previous highs, so right now I'm still thinking we retrace to the 50% Fib level, but definitely see pulling back to AT LEAST in the low $60's over the week or two.

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Thanks! Followed back. Risk management has always been my weakest struggle! Lessons learned :)

Man, I sold my litecoins when it was 30's. I am so sad now.

I lost 387 on a hard drive back in 2015...... kicks self

NEVER play the shoulda coulda woulda game though. That FOMO attitude long term costs $$$$$$$

It's like a casino....be happy with profits. All of these bubbles WILL burst just like in 2013. And yes...we ARE in a bubble.

That really sucks. I am sorry to hear that.

I hate to hear people lose money like that.

I've been running scanners on my hard drive so still tiny tiny tiny hope I can find my wallet.dat file. Back in the day it was only worth like $1k so didn't prioritize it.

An 18 point run from $80 (what is that 23%) on the four hour chart was too much for LTC. It is tired....I expect some consolidation to take place here.

I agree...I am wouldnt buy until it crosses through $100 with some momentum....it might waffle from $85-$92 or it might pull back more.

I dont think the bears are in control but I do believe the bull needs a rest.

there's going to be major consolidation at this level for a decent amount of time. I think all the new money is already in. Unless there's a huge influx of people dumb enough to buy in these conditions, it'll come down and consolidate a little. Like I mentioned, support isn't until low $60s.