5 Min Technical Analysis LTC/USDT 6 Sep 2021 - How drunk can it go?

Looking as to how fast prices bounce back, eit does tell a story of how it might play out in the not so distant future. The channels drawn does look like where prices would play out in a longer term between 275 - 425. Though it is a huge gap, but it is only because of how volatile this pair is. Lite coin is also a very controversial pair, there's a love hate relationship amongst seasoned crypto players. Should prices bounce and stay below 275 for more than a month do expect prices play between 200 - 275 which i believe is very highly unlikely. However, this prophecy would only come true if Bitcoin started tanking below 40k.

Source Canva edited by flipflopcrypto

Looks like the golden numbers never lie, fibo retracement between 412.98 to 118.10 it is currently bouncing off 38.2% (230.74). On the upside, the next resistance would be 50% (265). Though it is highly unadvisable to sell at this point, but we should not underestimate the this cycle as there are way more volume and that also means that there are twice or more new retailers and traditional finance dudes who wears vest, double cufflinks with greasy hair and a smirk for a smile, who speaks with authority and together with their pretentious knowledge on the blockchain, lie to the masses in order to stir the market for their personal benefit. Should that happen, the buying price would be 187 and below that 120.

Today's key word search! @ecoinstant, this is dedicated to you and I hope it touches your tralala. Please don't me shy to ask for any other chart if you'd like.

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