In my last post, I posed the idea that we were forming a new larger triangle. I expected that we'd bounce around a bit between our $50 support level and the top of this new triangle before building up enough energy to break through our previous all time high. This we did! And to my surprise this price action occurred even sooner than anticipated! We are now well on our way to that $75 target that I've been calling for for several months now. Congratulations to all those who maintained stamina and faith in Litecoin while it was stagnant and it seemed as though ALL other coins were moving. It was hard. Trust me, I know. But your patience is now rewarded! So Congrats!
Your levels now are easy to remember. You've got two supports below you:
- $57.75
- $55
Possible strategy idea:
You wouldn't be wrong to sell here (currently around $65). I am thinking about selling here, waiting for consolidation, and repositioning when we dip back down to $57.75. However, that is somewhat of a risk as we don't know how high we'll go before the buying resides. There is a good case for this strategy however. Here's my case:
[list]
[] Near the top of my bull channel
[] Above top of Bollinger Band
[] RSI overbought
[] That is one long candle!
[/list]
The choice is yours of course. But do let me know how you proceed. Will you play it safe and HODL? Or will you sell and reposition at a better price? I'm curious. Please let me know in the comments below.
i think there might be a little pull back brewing
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Hello dear, welcome. Hope you succeed. I'll follow your page. Hope you can follow me
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Great post! I see that you have been on steemit for some time now so thanks for finally sharing with us. I just upvoted you for this as you deserved it and know that the steemit community awaits!
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