After 4 years of accumulation period, LTC is finally breaking up the long-term resistance since May 2021 when it reached ATH.
It looks like we are finally ready to take off.
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Excalibur daily candle for bears.... They are all dead now... We break and we've built a great support at 73 mark. Next stop - $94
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bullish pennant on 1 hour
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Oh, no! Is that Head and Shoulders, bears ? We don't mind!
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According to the volume, we have enough buy power to break 94, let's gooo
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Liquidity taken, we are ready to smash 94
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Hold tight! We've just printed higher low. Bears, open the door or we go through it :)
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possible bull flag can take us to 115
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No reason to be bearish here.... - We have an actual retest of the recent breakout at the horizontal resistance - 73 (already support) - We are back in the bullish zone which increases the possibility of a real bull flag. - Once it breaks up the flag, we should witness an identical move as much as the size of the pole of the flag ($25) according to the technical rule of this pattern. The top of the flag is around $88 mark, so 88 + 25 = 113 which is close enough to the next resistance at $115 mark
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Breaking up the flag... 115 ahead!
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So far, so good! Well-defended, bulls! Any candle closing with its body (not a wick) below $84 on 4 hours, will invalidate the flag.
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The Thor's hammer has been formed on weekly... Expect a green week ahead!
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We are breaking 94... The flag is playing out by the book! What a great start of the week! 115 is certain from here!
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Exciting times
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After every breakout to the upside, it's always good to see a confirmation by the price retesting the same level again, in our case 94 mark. This saves us stress in the future and it builds a perspective for continuation of the uptrend. I think this is the last chance buying LTC below $100
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It looks like we've flipped another resistance into support ($94). Despite the bears' efforts to push the price down, the long wick of the green candle tells us that they failed to keep the price below 94 and every drop is considered as a great buying opportunity on the market as investors see the change in the trend
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Expecting an explosive fat daily candle up to 115 from here
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We did not have a bad close of the daily candle yesterday at all... Dropped to 90 and then managed to close around the support at 94. That means there is still buying interest and every drop is being absorbed by buyers. Also, a possible double bottom around 84 is giving us a signal for potential bullish outcome... Off course, we need to wait for the daily close to confirm that. However, I would not change my bullish view unless the daily closes below 84.
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We are holding pretty well so far! Keep it up!
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falling wedge spotted on 4 hours:
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84 is a well-proven support as we can see, I like the price action so far
Nevertheless, we should not underestimate the risk of invalidating the wedge by breaking down 84 and revisiting 73.
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nice play out of the wedge, send it
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So, the falling wedge was longer than I expected considering the recent long squeeze. Anyway, we are back in the bullish area between 84 and 94. Looks promising now.
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Deja Vu:
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Let go
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So far, so good!
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We are doing great, boys! The recent rumors for LTC ETF are pricing in perfectly, the volume is proving that. You know how it is, buy the rumors, sell the news!
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94 appears to be a strong support now, either 105 or 115 from here.
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Nice one! Now, it looks like we are building a higher low here and we are headed to the next target 115
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We are moving fast! We just need a breakout at 115 and a range above it for a while in order the uptrend to remain intact, a good stop loss here is at 101. Anything below that, will represent bearish price action.
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I like the reaction from the support at 94. I think that was another long squeeze and now we have enough liquidity to break 115.
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go go
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inverted head and shoulders all across the board
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keep it up, bulls!
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if 94 holds, this should be considered as a last chance buying under $100
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Bears could not even touch 94...
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101 is a strong support now, send it
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A choppy price action around the main support level at $94 mark is going on. However, a possible cup and handle pattern is forming on daily which is our last chance to go to 115-130 zone where a solid selling pressure is expected to occur. Invalidation point - $92.
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It's been a while... After the recent breakdown of the main support at 94, LTC has tried to recover, however we see another rejection at 84 (support before, resistance now). Considering the bearish momentum on the market right now, we can surely save more capital to buy more later on.
Litecoin should be above 400$ right now. At least. Solana is up 2000% from its lows, Litecoin is struggling to be up 100% from its lows. It's pathetic. I have a hard time believing Litecoin can underperform so badly and consolidate for 7 years in a macro symmetrical triangle just to slowly go back to ath over the next few months like your chart implies.
mwilson87
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@mwilson87, That being said, it's probably smart to have the lowest expectations when it comes to Litecoin. lol
when we go to ATH it will happen very fast. The BTC/LTC looks like it has capitulated over a 7 year period. if the trend changes it will be very fast.
Georgi_Iam
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@The.d.money yeah man, it’s time, been a long wait for this
scrom_indicator
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that's a great peebus you drew on your chort chart! i appreciate your delicate use of klonn lines to indicate the outliers to a higher accuracy. anyway, welcome to the world of scrom theory my friend, and best of luck to you!