Here's the chart for Litecoin. I've been watching this intensely now that I'm holding a 65 of them. I was mildly relieved when we passed out of the lower resistance line, pretty glad when we got out of the higher resistance line. Very pleased now that we're zooming up. I'm hoping this is a leading indicator for the some of the other major coins.
Sorry that my chart is a little busy. I think we did an impulse up out of the bottom at 6k. We hit the resistance line and crashed back to 7800. We went back to the resistance line, and crashed back one more time to the support. Now we're at the far right side of the neck line, which is an easier place to breach. Nature finds a way. So, I imagine many whales are waiting with anxiety for this to resolve too. Looks like 12-24 more hours and we could have our answer. Based on LTC exploding I'm a little more confidant that we are seeing the first of a major rebounding impulse. It just looks shitty and weak because BTC had two major resistance lines close by that were surpressing it down.
The head and shoulders still isn't confirmed so if you like sleeping at night then you may not want to invest until BTC goes back up to 8100 or more and stays above the neckline for 4-24hrs. If you're a little loco you could toss in now and gamble that the true recovery has started and we're not going down one more lower low.
My bet that I already made is that 2 days from now BTC goes nearly vertical and bounce off the upper projections around 10600.
Eth holders are in roughly the same bag as the BTC folks. We're out of the first resistance line, we're out of the second, but still haven't resolved the head and shoulders. Again, folks are gonna sleep better if they toss money in after price exceeds the neckline of the head and shoulders and stays there for 4-24hrs before investing. It took LTC a few days to pop even after it cleared so you may not miss the chance for the pop while also not risking a fortune betting before a confirmation.
This market seems to move as a big machine together. Money comes in and sloshes back and forth between the alts and the mains. It's hard to just look at one coin and figure out what the market is going to do. When I look I think there's a solid chance we're like a recently divorced person... time to rebound!!! LTC gives me hope that I made the right call buying when I did. Hopefully it pans out well for others that cash in over the next few days and here's hoping we're not in for another lower low.
Lots of people put out price stuff these days. Hard not to when the it's clearly a path to success on Steem. I recently added in a lot of cash from a 401k so I'm watching this stuff like a hawk mostly to ensure I don't lose it and wake up dead from my wife. Anyway, make your own financial decisions and keep this as one data point for your own due diligence.
I pity the fool that takes my inexperienced ramblings at trading as solid investor advice.
