Litecoin... going to the well again?
LTC has repeated the same setup multiple times now... Middle finger looking top with a fib level support setup and an arch like consolidation. But, there are several spots it could bounce just to retrace more and do it again.
So, just be cautious and know the closer we get to August, the more like a major dump is coming, because it is what litecoin has always done on a halving. Remember, Litecoin is cheaper to mine, so its no biggie. Historically LTC has gone down post halving then caught the BTC post halving wave after some time in the dirt. BTC has done its big moves post halving. Will this cycle like the cycle on the chart play out as history has in the past?
Manage risk, know your spots, have a plan. stick to it.
Right now LTC is oversold on the slow crypto stoch. 10, 5, 3 setting. It can hang down here but we're at a swing line, so it could have a bounce. If not, watch or the break to our first fib support.
So, just be cautious and know the closer we get to August, the more like a major dump is coming, because it is what litecoin has always done on a halving. Remember, Litecoin is cheaper to mine, so its no biggie. Historically LTC has gone down post halving then caught the BTC post halving wave after some time in the dirt. BTC has done its big moves post halving. Will this cycle like the cycle on the chart play out as history has in the past?
Manage risk, know your spots, have a plan. stick to it.
Right now LTC is oversold on the slow crypto stoch. 10, 5, 3 setting. It can hang down here but we're at a swing line, so it could have a bounce. If not, watch or the break to our first fib support.
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