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When Is Bitcoin Going Down?
The most important event of 2019 which was the Litecoin (LTC) halving has finally happened. If we take a look at the daily chart for LTC/USD, we can see that it did not shoot up towards a new all-time high as the majority expected it to. In fact, the price retraced quite sharply and ended up closing not just below the 50 day EMA but the 21 day EMA. This goes on to show us what expectations mean compared to reality. The price has declined below $100 and is now eyeing further downside as the market gets closer to the beginning of a brutal downtrend. The price has closed below a key support/resistance level. This level has served alternatively as support and resistance for a long time. We have seen the price test it as support and resistance numerous times and this time it has been tested as resistance again.
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