- September 13, 2019
- Posted by: Tradingshot Articles
- Category: Uncategorized
The title really says it all. LTC is trading around the 1W MA50 on a possible mid term support event for the current Bull Cycle, which is methodically repeating the 2015 sequence. This MA period previously held throughout 2015 – early 2017 up until Litecoin initiated its super strong rise to the mid $300s peak.
Notice how the Top-to-bottom and bottom-to-Halving bottom phases between the 2 cycles have been virtually identical.
There is no reason to expect something different this time. Unless we see a major divergence below the 1W MA50, I expect this level to attract buyers and give sporadic spikes on a lengthy consolidation until the next super strong parabolic rise.