The Rise and fall of Litecoin? Short Term Forecast

18 feb 2018

This will be a quick one just for the purpose of putting it out there.
19th Feb 12am for a bottom. Likely $175 however wouldn't rule out $143

Let's see what happens. Prepared to go long if upper resistance is broken leading into the date.
Next date to watch 23rd Feb 20:00

AussieGann

20 feb 2018

Nota

Ok so I've been observing from the sidelines with this recent price spike. I am still 100% bear leading into the 23rd for a possible bottom. The spike was purely based on people rushing to buy litecoin to get the free coins on offer for litecoin cash. The market has retreated back to where it was as those that bought LTC have now sold it to negate any risk as they now have free coins.

So I am predicting a brief period of sideways action between the ascending red line and the higher horizontal red line. Once the market falls below the ascending line I am looking for a bottom on the 23rd at approx 20:00. This date and time is based off Gann's balancing of time. As for a price $150 is strong support but if the move is driven by excessive fear (those that have bought after the initial run up) we could see a return (test....) to the double bottom. That might seem crazy given the recent "bullish"action but time will tell. Of course I could be completely wrong so don't take this as advise.

21 feb 2018

Nota

21 feb 2018

Nota

Added an extra red Resistance line to watch...

21 feb 2018

Nota

Now that the market has settled somewhat it is easier to see what is happening. If you ignore the big spike it's still forming a massive flag/pennant. The break out of this (down or up) will be dramatic!

22 feb 2018

Nota

After a bit of a heart attack moment (the rise back up into the pennant zone) it's following the script nicely. Watch for quite a quick drop between $195 and $170. A bottom at $150 is looking likely however there is strong support at $170 so that could slow the fall.