On January 03rd, we provided these targets valued in terms of relative strength between #Litecoin and #Bitcoin. During a protrated consolidation period, we delved into highlighting momental lines that would contribute to the protraction. The lines defined in the chart maintained there relevance over several months, and we able to give the trader a visual of support/resistance.
However, as of today, the support lines have ceded to bears, and as of this 4-hour candle frame, the chart clearly illustrates a bearish decline.
Prior candle closed at the very bottom-tip of our defined target (established at the beginning of this month), thus meeting our definition of a surgical dead-on hit.
Current candle is stomping on down at bearish paces, and nears our next defined target, valued at 0.023.
OVERALL:
Bearish decline met primary target. Target-Low remains pending. Expect support at the latter.
Cheers,
David Alcindor | 4xQuad.com
Predictive Analysis & Forecasting
Denver, Colorado
USA
---------------------------------------------------
Follow us on Twitter: @4xForecaster
Chart with us on TradingView.com: 4xForecaster
Like Us on Facebook: www.4xQuad.com
---------------------------------------------------
However, as of today, the support lines have ceded to bears, and as of this 4-hour candle frame, the chart clearly illustrates a bearish decline.
Prior candle closed at the very bottom-tip of our defined target (established at the beginning of this month), thus meeting our definition of a surgical dead-on hit.
Current candle is stomping on down at bearish paces, and nears our next defined target, valued at 0.023.
OVERALL:
Bearish decline met primary target. Target-Low remains pending. Expect support at the latter.
Cheers,
David Alcindor | 4xQuad.com
Predictive Analysis & Forecasting
Denver, Colorado
USA
---------------------------------------------------
Follow us on Twitter: @4xForecaster
Chart with us on TradingView.com: 4xForecaster
Like Us on Facebook: www.4xQuad.com
---------------------------------------------------