Nothing is set in stone , past performance is not indicative of future results.
But I trust the collective community sentiment shown from $LTC.
Trading this chart for many years I could be biased but I’m looking for another leg down to start DCA’ing.
#NFA
Here are some charts for reference:
As you can see $LTC has peaked at the same top , two cycles in a row.
Also notice how much room , even if it seems small on the weekly , for the downside to play out.
Anyone who says otherwise has not been in the game for more than 5 years.
$LTC is also a great indicator for top signal.
Anytime #Litecoin peaks at ~ $390. The top is usually priced in.
Of course this is not financial advice…
But we need everyone to be realistic and search for proven S/R levels for a bounce.
Until #Litecoin falls to ~ $17 bottom , we won’t see the next bull run commence.
As an investor and trader, the usual band for $LTC at this cycle should be ~ $54 - $47 per coin.
Litecoin is still overbought which leads me to believe we have another ~ 60% leg down to go to enter standard range.
How I use $LTC as a macro indicator 🧵
Litecoin is a true indicator of investor sentiment across crypto.
As of 12/1/22 , Price is $77.15, which is nowhere near where it should be.
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