BCH is one of my favorite cryptos because of its tendency to pump a lot faster than others. Who wouldn't love to catch that wave?
Using this channel (thin lines) you can more easily predict where BCH is going, whether it is a pump or a correction of a pump. I like holding my shorts/longs just inside that channel to make sure I don't get too greedy like I used to...
Few days ago I marked this day as a deciding point. LTC has decided to break upwards and confirm my prediction to retest $85!
Yes, I said we retest $85 as new resistance, but resistance switching to support is even sweeter.
We are out of the previous channel and back on track to test local high, the 100$.
BUT! Before we go up, we need to really test the $85 as...
A week ago we have dropped to our Dec-Apr channel, today we have broken up through it again.
If we close today above $75 I believe we are going to rest in this small area $78-85 for the next week until possible break of $85 around May 20th.
This would even form an inverse shoulder head shoulder, and a pump to test the $100!
If we do not break $85, next support...
On this chart you can see a simmilar channel that LTCUSD is currently in, or is currently fighting against. I believe BTC is set to test $6000.
LTCBTC coming to upper part of channel would be a 0.382 retrace, and that would be around LTCBTC 0.015, which is $90 (6000*0.015=90),
0.236 retrace would be around LTCBTC 0.014 and that would be the $85 that I was...
