LTC Possible Large Move

BTCE:LTCUSD   Litecoin / U.S. Dollar
LTC has been a weird one chart wise up through this time.
Bollinger Band analysis seems to provide the clearest insight into a potential pop.

  • Head fake - Bearish candles hit bottom BB and found support to bounce from (Pink Box)
  • BBW is at a lower extreme (Blue Box) - the tightening of the bands should open up and give way to upward movement
  • Look for weekly close above upper BB
Comment: Drawn out quite a bit longer than I had expected, but it looks as though we are beginning to see action towards a strong breakout move.
Trade active: ;*
Comment: Position has been accumulated. I will be adding more based on the price context as we progress. First and second targets remain $5.386 and $6.761 respectively (pink lines). If we make it all the way through the orange this should actually get fun.

Comment: Daily view to follow better

Trade closed manually: Big dumps across the board. Time to watch da red and reset.
Trade active: Opening back up long down here. Today's dips seem more and more of just minor correction. Will re-evaluate completely if we get some real heavy down.
descending triangle currently...not bullish :(
Aerot bysteven
@bysteven, Ty for your example on how not to read a chart.
Back to $40 and higher I hope!
+1 Reply
looks like a bukk trap
going down to 3,8$
yup, also on the 1d chart--ltc/cny just had a golden cross (when this happaned to btc price was in the $2xx's or so and has never looked back) interesting that its gearing up now with the latest development update due to be released any day now...
+1 Reply
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