LTC - Something is fishy with the graph - A possible bear trap
LTCs chart is a "bump and run" reversal and it should bounce at around the current area (around twenty something) .
in fact looking to the far left of the graph it should have bounced off the 2013 support at the 21 area, but no
bounce has occurred which looks very fishy and makes me suspect a bounce is on the way.
I cant really see LTC dropping to 6 bucks . This figure just doesn't make any sense , but im going to
confirm if the other ALTs are showing the same graph behavior which looks like a bear - trap .
in fact looking to the far left of the graph it should have bounced off the 2013 support at the 21 area, but no
bounce has occurred which looks very fishy and makes me suspect a bounce is on the way.
I cant really see LTC dropping to 6 bucks . This figure just doesn't make any sense , but im going to
confirm if the other ALTs are showing the same graph behavior which looks like a bear - trap .
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Similarly to LTC / XRP can potentially bounce from the current location also ( currently .30 ) but buyers and volume are needed to get this traction going ,
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BTC graph similarities between 2015 and 2018 .
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2018 graph
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what is throwing me off currently is this looming MA200/ MA20 cross
When the Slower moving MA200 crosses the Speedy MA20 it results in a big drop .
Infact this is what got us into this current mess at 33xx in the first place . This occurred when the slower MA200 crossed the MA20. This has resulted in a was a $3000 drop ( see the graph below)
The upcoming cross is set to hit around Dec 19th and this would take BTC down to the 1900 area . However BTC can avoid the drop if its able to move up past the 6K area so the MA20 gets out of the path of the MA200 before the 19th .
This action would looks something like this (see below) - But this needs a lot of volume to occur , ..but I dont see this volume currently so what gives ???
When the Slower moving MA200 crosses the Speedy MA20 it results in a big drop .
Infact this is what got us into this current mess at 33xx in the first place . This occurred when the slower MA200 crossed the MA20. This has resulted in a was a $3000 drop ( see the graph below)
The upcoming cross is set to hit around Dec 19th and this would take BTC down to the 1900 area . However BTC can avoid the drop if its able to move up past the 6K area so the MA20 gets out of the path of the MA200 before the 19th .
This action would looks something like this (see below) - But this needs a lot of volume to occur , ..but I dont see this volume currently so what gives ???
XRP's graph shows that .26 has been strong resistance in the past and in 2017 it took a few attempts to break past it, but once broken XRP flies high.
Currently .26 has become strong support and it has been tested a few times. XRP may test it again but it needs buyers and volume to move it higher.