What's up everyone, after receiving many request for LTC/BTC here is my view on the 4h chart featuring a bullish cypher pattern.
The measurements for a valid cypher are detailed below. B: 0.382 - 0.618 C: 1.272 - 1.414 X to D: 0.786
Right now price is holding above the minor support trendline at 0.016, a break and close below would indicate a move to lower support at 0.0146.
From there I would expect a further move down to complete the D leg, therefore, providing an ideal area to go long.
If support holds price could push up to resistance at 0.0178, which is just above the 0.382 retracement of high to low.
Just to add, to all those requesting analysis keep in mind I receive a lot of requests per day and I only upload analysis where I see beneficial to the community.
I hope you all have an excellent weekend when it comes.
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To those trading LTC/USD here is the same pattern using different support and resistance levels.
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Support broken at 0.0146, expecting further declines to complete the D leg at 0.0124.
I recommend anyone new to trading should consider taking part in the SixFigureCaptial course.
A lot of good information employed in a way that you won't get anywhere else.
I'm really looking forward to what the future holds with this.
Many thanks to Lewis, and I look forward to trading with you in the future.
LewisGlasgow
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@Andross, I really appreciate that, thank you! I'm glad you're learning a lot from my courses, that's what matters.
I look forward to seeing your results.
I'll be uploading a new cryptocurrency video in the market analysis section this weekend :)
100% agree with this pattern.
Do you expect that LTC USD and BTCUSD will fall in the soon future?
LTCBTC fall to 0.0124
could be resulted in :
1) LTC fall ( more) , BTC fall
2) LTC fail , BTC up
2) Both up , LTC up (more)
In your another post, you mentioned the target of BTC USD1800. 00 .Then LTC will be USD 22.32.
Tell me if i am wrong.
Thank you
Look forward to your next sharing
rudigobriao
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I really like your analyses, i am wondering why is that a support line at 0,0124?? sry for my bad english
LewisGlasgow
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@rudigobriao, thank you! This is where the pattern completes, meaning price will likely stall at this level :)
VishanthVijayakumar
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Thank you man! I bought at 0.01249 on Kraken :D Was a flash sale ;)
A lot of good information employed in a way that you won't get anywhere else.
I'm really looking forward to what the future holds with this.
Many thanks to Lewis, and I look forward to trading with you in the future.