System791
Long

Litecoin - possible entry approaching - timing

BINANCE:LTCBTC   Litecoin / Bitcoin
Quick idea - Using the fibonacci time zone tool and placing the first two points on the start of an upward wave and on the end of the low,
we can see how perfectly the other vertical lines have lined up with other future moves. The number 13 vertical line is fast approaching, which
may indicate the start of the next move. A great wait and see for a potential 8%+ long. Have a stoploss just in case it breaks down.
It looks positive from my opinion with an oversold rsi on the 4h and potential macd crossing over, and that it has slowed down and gone sideways
on this level of support. I had to share just because how perfect the time zone tool has played out on this application. Best of luck.
Feel free to share ideas below.


Comment: Failed, did decide to brake trend on that number 13 vertical line.
- next support is 0.01212900 (the bottom part of a triangle, not drawn on this chart)
- after that 0.01148500 btc

I think the triangle will hold, as it has done since January.
A lot depends on btc too, at the moment they are in a direct counter trend to each other.

Waiting for a reversal signal now, a double bottom, inv h&s or bounce of trend.
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