LTC and the Rising Channel!
Updated
This time I'm going to write about something many you probably knew, but some may have not: LTC has been rising since May without ANY sign of stopping! It has been in an ascending channel since the beginning of this latest rally and has been trading faithfully within its limits the entire time! Not only that it doesn't seem likely to break out of its channel any time soon. The other interesting fact is that these patterns look exactly the same as the legendary Alt runs in 2017 right before the ATH! That isn't to say we will have new ATH, but I am saying that we are well on the path of gains for the foreseeable future, until or unless this channel is broken!
That also being said, we are absolutely in the consolidation/correction portion of the channel, so when making buys, especially with "All-in" buys make sure to be fastidious in your sell levels, even if you "miss out" on that extra couple %. What would be worse if you HODL and lose 10-30% in a single hour!!!! Another interesting trend I have noticed is that when tracking rises and falls, keep a sharp eye out on BTC's price movements, escpecially on the smaller scale charts, it will heavily dictate the general direction of your preferred Alt!
My prediction is that LTC, and other alts, will consolidate down 30-40% from their Yearly highs in the next 1-2 weeks, however with volatility in Crypto that doesnt mean we won't see beautiful rallies and heart stopping drops in the mean time! Once you start seeing the graphs paint themselves to the bottom of the channel, brace yourself and make conservative buys. That will be the last "discount" for this rally!
That also being said, we are absolutely in the consolidation/correction portion of the channel, so when making buys, especially with "All-in" buys make sure to be fastidious in your sell levels, even if you "miss out" on that extra couple %. What would be worse if you HODL and lose 10-30% in a single hour!!!! Another interesting trend I have noticed is that when tracking rises and falls, keep a sharp eye out on BTC's price movements, escpecially on the smaller scale charts, it will heavily dictate the general direction of your preferred Alt!
My prediction is that LTC, and other alts, will consolidate down 30-40% from their Yearly highs in the next 1-2 weeks, however with volatility in Crypto that doesnt mean we won't see beautiful rallies and heart stopping drops in the mean time! Once you start seeing the graphs paint themselves to the bottom of the channel, brace yourself and make conservative buys. That will be the last "discount" for this rally!
Note
The channel has proven to be correct and we haven't begun a correction either! There re certainly dips, and lows to be aware of but overall LTC is trading horizontal and in an increasing fashion!
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