The break just happened, so wanted to post an update here. The breakout is bearish as predicted. Volume is increasing confirming this break.
Support right now is $236, $233 and $230. 4-hr RSI is almost oversold and 4-hr stochastic RSI is at the bottom. We probably will see a slight bounce here before too long up to resistance from support of the consolidation.
We're still pulling back, so longer positions should be patient for now.
Happy trading!
https://ibb.co/ebZCrb
Support right now is $236, $233 and $230. 4-hr RSI is almost oversold and 4-hr stochastic RSI is at the bottom. We probably will see a slight bounce here before too long up to resistance from support of the consolidation.
We're still pulling back, so longer positions should be patient for now.
Happy trading!
https://ibb.co/ebZCrb
Great to have some cheaper Litecoins available, ey? Litecoin has amazing features that make it much more valuable than Bitcoin, but its growth was unsustainable. It was obviously gonna drop and we're still on that ride down.
I'm not worried though, as it's pretty certain that it'll go up again. Maybe not very soon, but I doubt it'll take years until it's on the rise again.
For longer positions, this is a great opportunity to buy more LTC :-)
Happy Trading to you too!