Litecoin November Price Predictions - Long/Short Term Goals Firstly, I would like to apologize if my chart is not to scale. This is the second chart I have ever drawn and a complete and utter noob at it. Anyone who is willing to teach me please DM I would greatly appreciate it. I would also like to say thank you to everyone who gave me a lot of support on my first TA on Tradeview...I never thought that it would hit that amount of views. I have gotten several DM's in regards to creating a group chat... let me know if LINE app or Telegram would work better... I have one on Whatsapp, but that is for my personal friends. I think there are more credible resources for trading...so any experienced traders who would like to join and teach please feel free to do so. I personally would like to learn more. If you want to go fast, go alone. If you want to go far you, go as a team.
Here is my analysis for November. I will be the first to say that I am 95% sure there will be a hiccup along the way. Who can ever predict SegWit2x being canceled and the Bitcoin Classic Dev's giving up on the project and Bitcoin Cash reigning as upcoming king!?! Anyways let's get to the goodies...
"LTC will hit $61 tonight and there will be a battle between the bears and the bulls." Came from yesterday's analysis and it hit! We can expect prices to teeter between $58-61.5 for the rest of 11/11. I also mentioned that expect dips to $58 which happened early this morning. This is the most challenging staging ground, formulating the launch pad up. Try to average out your costs when you are entering here. Personally, I was able to get in on the dip yesterday but as a sign of faith, I have also purchased coins at $60.8. Pennis won't kill you in the long run. I lost a lot of opportunities over nickles! Which cost me hundreds.
The sell wall at $62 will be our first challenge and I can see us hitting into $64 range by the end of the weekend. After this point, there will be a back and forth in price consolidation. As more funds cool from Bitcoin Cash upward run we can hopefully expect a more bullish sentiment towards $66, this will take a couple days. We have buyers sitting on the market between $58-54, they are slowly but surely moving up their limit price. Their buying power will translate to a bullish run once see some strong purchase volume and pressure which will help elevate the price, break barriers, and onward to our first target point of $66.
Long-term investor: If you aren't too picky about your buy-in range feel free to purchase sub $61 -55. Take profits at $70-75 in November. $80-90 hopefully by years end.
Short-term players: Buy in close to $60 or below. Hold through the small potential dips to $58. Sell @66 and follow the retrace back to $63-62. Buyback in and sell at $72-75. The issue why we aren't pushing the price through the roof is the plethora of sell walls that are keeping the margins tight on LTC. Once investors start believing in the long-term value of LTC the sell walls will move at higher price point.. it allows more flexibility and volatility to push up.
Timeframe: End of November.
Note: On Chart the blue lines show my predicted trading price range. Sorry its nt to scale!
I plan on continually updating on this analysis for the month of November. If you guys can help me keep it on the post popular page of LTC that would help me from creating too many charts and TA"s. I look forward to everyone's opinions and comments. I highly encourage discussions and even disagreements...it opens up more paths to fruitful discussions and in the right setting alleviates uncertainty. Remember trading and investing is all psychological. Don't run it with emotions and greed. Be happy with your gains and be happy when you cut your losses. Stick to your guts and it will always pay off in the long run.
Anyways, thanks for letting a 24 -year-old kid get his first TA on the spotlight! Wishing you all a great Veterans Day weekend. Grateful for all the men and women who sacrificed for my freedom!
