LTC: Finding Bottom?
Here are some resistance points for those interested. This is less of advice when to buy or sell, and more a reminder of the points we should be looking at.
$53.30 This is the bottom of the triangle that's held for the past 1.5 months. Dipping below it for a bit is fine, but if we have a sustained breakout this signals potential problems to come.
$50.30 Previous support line from the beginning of the month.
$49.80 Bottom of year long channel. If we go below this then watch out.
Personally I'm holding. This looks bad, but I don't think we're at cataclysmic yet.
$53.30 This is the bottom of the triangle that's held for the past 1.5 months. Dipping below it for a bit is fine, but if we have a sustained breakout this signals potential problems to come.
$50.30 Previous support line from the beginning of the month.
$49.80 Bottom of year long channel. If we go below this then watch out.
Personally I'm holding. This looks bad, but I don't think we're at cataclysmic yet.
Note
Looks like we bounced off of $53.30. Definitely a good sign. Would expect an upswing in the next few days. Potentially $56+.
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.