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LTC/USD-Price Analysis 1.4.18

1/4/2018

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LTC/USD
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I want to be bullish on Litecoin; I really do.  But the chart seems quite bearish right now.  It appears as though the coin is forming a head & shoulder pattern on the 4 hour (since late December).  I agree; the pattern isn't complete as of yet; but it sure looks like it's forming that right shoulder. 

Providing that the right shoulder is formed; you want to pay attention to the $200-$213 area.  If $200 support doesn't hold; we may be looking at a retest of the $144 low. 
DISCLAIMER:  Nothing on this site shall be constituted as investment advice.  Cryptocurrency is a highly, note, HIGHLY speculative market.  The returns are great but so are the risks!  As with investing; I never invest with money I can not afford to lose. 
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    Tina "ShortMeTina" Ley (pronounced Lee) holds a Bachelor of Arts in Forensic Psychology and a Master's of Science in Mental Health Counseling and has been a stock market participant for over 10 years.  Currently a Full-Time Trader and Blogger of all things financial.

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