Things still looking good here LTC has been steadily gaining in its BTC pairing since a local low.
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candles creeping along the arc. good sign
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LTC is showing strength in the BTC pairing currently on lower timeframes.
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the daily from old drawings prospective and what I was watching
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and from the 4 hour to get a closer look at what I saw
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This is one way I try to see where a retest will occur in time.
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I have been watching the development of a Head and Shoulders on the 4 Hour chart. The right shoulder was drawn in well before pa entered those levels.
I also highlighted an RSI trend that has broken to the downside. This may signal a temporary weakness, and force LTC to back-test the local support. I believe it will hold and LTC will have another continuation.
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Weekly targets express as horizontal lines.
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And a close up of the smaller timeframe trends. There was a lot of bouncing around here.
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Just checking in to let you know what's going on here in the PA.
we are hitting a macro resistance on the monthly chart. This is an important area to watch. Possible drop incoming, but I am neutral here.
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a rare 2 hour glimpse.
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This is what I have been watching from the 2 Hour perspective.
We have another "w" Shape forming on LTC-USD.
This is also called a double bottom shape.
Volume is in an uptrend.
Price action is meeting a key order block.
Looking for a break above, or a break below.
Who knows... NFA
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Here is the weekly update on what I am watching in LTC-USD
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Here's another look at the 2H chart.
.786 lining up with support on most recent impulse.
Bullish is green, Bearish is red.
Bottom RSI trend line is valid.
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LTC struggling to stay above a non-horizontal resistance on the daily chart.
RSI is trending downward.
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updating the monthly idea with more accurate trends.
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This is the retest wick ive been waiting to see LTC make, it just happened later than I had originally anticipated. This is a very good sign for this old timer token and the original alternative coin.
Monthly perspective to match the original ideas perspective. Trend line is slightly adjusted.
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Its decision time for LTC on the daily chart. Lots of trends are coming together.
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Added a vertical line in to mark the halvening which is coming at the beginning of next month. Also showing the trend break from the previous ATH to now. LTC is currently back-testing a descending resistance that is for now acting as support.
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7/30 Simple Moving average cross occurs at cycle dead bottom.
30/50 cross marks the start of the parabolic rally.
Key RSI level between 40-47 for oversold.
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hind site is 20/20.
original timetables for this idea were flawed. rally should occur soon based on previous cycle and current structure on the monthly
updating this idea because we have a macro downtrend break on a similar timeline as the previous cycle.