Hello All,
I wanted to share this LTC chart and my view on it.
LTC made significant recovery from the bear market, it almost had 560% rise, but here on Daily now we see significant weakness and all that halving hype is long gone. From its top LTC now down 51% which is not really a good sign.
During early stages of new bull market we can expect 20-40% correction but more than 50% drop with still no signs of strength, hmm it looks bad. This started to feel like a massive bull-trap.
In addition I also wanted to point out the upcoming death dross (Arrow) on my Direction Trade Indicator.
Here is brief history of this indication,
1) First Golden cross: LTC went from 3.50 to 350$
2) First Death cross: LTC dropped from 200 to 20$
3) Second Golden cross: LTC went from 40 to 140$
4) Second Death cross: ????
I am not bullish anymore on LTC, and if it breaks 60-50 $ I will turn bearish on LTC.
Happy and safe trading,
Chao...
Don't just read show some support also.. come on.. :) :)
I wanted to share this LTC chart and my view on it.
LTC made significant recovery from the bear market, it almost had 560% rise, but here on Daily now we see significant weakness and all that halving hype is long gone. From its top LTC now down 51% which is not really a good sign.
During early stages of new bull market we can expect 20-40% correction but more than 50% drop with still no signs of strength, hmm it looks bad. This started to feel like a massive bull-trap.
In addition I also wanted to point out the upcoming death dross (Arrow) on my Direction Trade Indicator.
Here is brief history of this indication,
1) First Golden cross: LTC went from 3.50 to 350$
2) First Death cross: LTC dropped from 200 to 20$
3) Second Golden cross: LTC went from 40 to 140$
4) Second Death cross: ????
I am not bullish anymore on LTC, and if it breaks 60-50 $ I will turn bearish on LTC.
Happy and safe trading,
Chao...
Don't just read show some support also.. come on.. :) :)
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.