Trend Reversal for Litecoin?

COINBASE:LTCUSD   Litecoin / U.S. Dollar
255 0
Hi guys, this is my first published chart. I am relatively new to this so any feedback would be great!

It seems to be we may have potentially formed a double bottom around the 100 mark.

As you can see, the volume at these levels twice brought out the bulls in full force.

We can also see that there has been a bullish cross over within the MACD .

We are at a critical point where we are trading right below the 50 day EMA , which has been highly resistant in the past.

If Litecoin can break through the 50 day EMA , it will zero in on the top of the downward channel and heavy resistance at about the 180 levels. And a break through on those, will convince me that there has been a market reversal and control has been taken away from the bears. But all this could change in an instant, in fact, while writing this, Litecoin came so close to touching the 50 day EMA and immediately pulled back a bit!

Stay tuned!!

These are very exciting times!!

Comment: Edit: Litecoin touched the 50 day EMA on the 1hr chart, and I have posted the 4hr chart here! Looking at too many charts at once!! But the 50day EMA still is a target that Litecoin needs to burst through, on any chart!
Comment: ignore previous comment. i was right on which chart it was! gosh, home sick doing this stuff and i obviously got confused! lol thanks guys! sorry for any confusion (if there was any).

The obvious point right now is that the 50 day EMA is very resistant. We have failed to breakthrough over the past few hours, however buying has been very strong each time there has been a small dip under 140. This situation needs to be monitored VERY closely.
Comment: We have a strong move above the 50 day EMA and are now trading at the top of the downward channel. Momentum is continuing to build. But the resistance is large and we are now trading right at the tip of it. Stay tuned!
Comment: We have been convincingly rejected by the 50 day EMA line. This is worrisome. The double bottom target could turn into a triple bottom or could be an invalid analysis altogether, stay tuned.
Comment: TREND REVERSAL has been CONFIRMED! I will be posting a new analysis about the new upward trend i believe LTC to be in!
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
HE עברית
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out