alanmasters

Litecoin Hits Support, Potential Bounce Zone

BINANCE:LTCBTC   Litecoin / Bitcoin
Litecoin ( LTCBTC ) has hit the 0.786 Fib. retracement support and is now trading just above EMA100, sitting on a great spot for a bounce, but there are a few things to take into consideration first... Feel free to hit like now and let's continue with this analysis:

  • LTCBTC has been showing huge momentum on the drop , so it can still go a bit lower.
  • If EMA100 doesn't hold (daily candle closes below it), then you can expect for EMA200 to be tested.
  • If EMA100 holds as support, we can expect Litecoin to bounce and start a new wave up.
  • Green volume was good yesterday, bulls need to follow up today for a bounce.
  • Different scenarios drawn on the main chart.

Thanks a lot for reading.

Namaste.
Comment: Bitcoin update:

Tron on BitMEX (TRXM19)(140% ROE on 10X):
Comment: Perfect bounce for our LTCM19 trade.
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Related Ideas

Is it coming now?
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@mr.bergan, The trade idea didn't receive enough likes... I will post a new one.
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Thanks for the idea.
What about small cap Alts Like: NPXS, BTT, and DENT that is in it's 2017 ICO Price ATL 99.7% DOWN? Please also look at DENT. Thanks.
Reply
alanmasters irfanali741
@irfanali741, Give them 2-3 weeks and they will start some good bullish action.
Reply
irfanali741 alanmasters
@alanmasters, Thanks for the reply on time. God bless you.
+1 Reply
alanmasters irfanali741
@irfanali741, My pleasure. :)

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All depends on BTC. However, it seems a bit like alts reaching their support levels are a point where bitcoin stops falling too. So, are ALTS not running the show on a drop with BTC running the show on the rise?
Reply
alanmasters matthevandaalen
@matthevandaalen, They might rise when BTC falls.
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Yesterday's candle has formed a nice hammer. Maybe we will see soon a reversal?
Reply
alanmasters CryptoTraderXL
@CryptoTraderXL, Yep, most likely.
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