Can Litecoin break this channel on the daily?

Updated

Until Litecoin breaks out of this ugly channel on the daily, either to the upside or to the downside, I will not be a buyer. We are flirting with the top of the channel now. However, take a look at the RSI chart. We are hitting our heads on some major mid-level resistance in direct correlation with the top TL of my descending channel.

Watch closely folks. We should know by tomorrow what the market has decided.

Happy trading.

Note

Re-adjusted the top TL. Looks like we can go to $57.75 before a break down.

Note

Hit our heads on the top of this channel beautifully. Now down? I don't know. We'll know for sure by Thursday at the very latest. But today and tomorrow should be our tells:

Note

Posting again as a reminder that we are still in this down trend. Can the bulls push us up and through? I don't know. But as I stated in the last post, we will certainly know by COB today. I think the next candle on the COINBASE daily opens at 8pm EST? This new candle should give us an indicator of where we're headed. But remember, we also need confirmation. Confirmation is the open AND close of the next candle on the daily either ABOVE our downtrend channel OR below our uptrend channel (GREEN). Either way (again because I continue to receive questions about this), I am NOT a buyer until we break the channel!

Note

...And here we go!

stewdamus

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