grantpk

Noob trader, Discussion for what comes next.

COINBASE:LTCUSD   Litecoin / U.S. Dollar
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I'm a bit more bullish on litecoin after seeing the amount of volume that's being pushed. If this is still just a period of consolidation for volume to catch up with the 2 million dollar sell wall at $50, then we should see an attempt at breaking out near 49-50 again. If the market is really bearish then stop losses need to be set in the low 40s and fills for mid-high 30's.


My advice is not based on any experience, but months of basic trading research at this point. Trade at your own risk and with what options you feel are the smartest. NOOB TRADER in the title haha.
Jun 21
Comment: Look for a breakout on the upper limit of the descending triangle, this is a bullish break, a break on the lower side is a bear signal. If it breaks on the top it will bounce back and touch the top, then take off to what I hope is 50 or beyond. If it breaks out below then get ready for a good dip.
Jun 21
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Jun 21
Comment:

Touched the top like we thought, but did not bounce back toward 47-50... bears might be winning the fight here as massive sell volume showed up after the bottom limits of the channel that the price has been bouncing from was broken (white line on top and bottom). We might see a small push back into the channel with a sharp drop, or a price drop to the old support and back to our new 40 support.
Jun 21
Comment: Could also be consolidating, as we saw before... a move into the ascending triangle would give us a bullish signal. A continuation of the pattern into the descending triangle will tell us a lot depending on where it breaks. If it breaks at 50% of the formation expect a deep drop into the purple . If at 75% it breaks downward then expect a drop into the dark blue. There's still plenty of bulls showing up in volume for things to turn around or at least allow profit from spikes back into the white channel. Previous lows in green show us where there are opportunities for small channels to form and areas they will bounce.

The upper break in the past triangle was a bullish signal but volume could not complete the want to go up. The next break could respond with a similar result as buy volume has not decreased too much. Sellers are taking a break and there is enough support to keep us going.
Jun 21
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Jun 21
Comment: Entering the ascending triangle. Will it reject?https://www.
Jun 21
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Jun 21
Comment: Back down we go!
Jun 21
Comment: We could see some resistance here back to the top of the triangle. I'm doubtful we will poke through the top.
Jun 22
Comment: Possible reversal for another attempt at 50??

Jun 22
Comment: I think this might be a little more likely
Jun 22
Comment: ^^
Jun 22
Comment: I think its about to go down.

Jun 22
Comment: Entering the middle finger

Jun 22
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Jun 22