Folks, I know people are completely frightened by crypto right now but we are actually looking great in my eyes. This is a more in depth, caring update to my previous post,
. Looking at our 1D chart, we have a bullish MACD crossing that has just taken place. Why is this so important you may ask? Well because the LTC/BTC ratio is on the cusp of breaking out of a large bull pennant at this very moment -
.
Yes, this is a triple bottom but if you follow the downtrend angle it is also an Adam and Eve double bottom, and an inverse head and shoulders in my opinion - potatoe potato, they're all bullish whatever one or two you see.
The volume is dwindling down still as you can see which will lead to increased volume approaching as we build back up - forming a potential large cup and handle and leading us toward a potential moonshot.
Last but not least, take a look at this picture published in an article back in February of 2017 about bitcoin, where would you say LTC is now? ;)
media.coindesk.com/u...d-a-moon-cartoon.png
Good luck to all, this is not financial or trading advice. This is just my mere opinion and I have been looking at charts for less than 1 year.
Yes, this is a triple bottom but if you follow the downtrend angle it is also an Adam and Eve double bottom, and an inverse head and shoulders in my opinion - potatoe potato, they're all bullish whatever one or two you see.
The volume is dwindling down still as you can see which will lead to increased volume approaching as we build back up - forming a potential large cup and handle and leading us toward a potential moonshot.
Last but not least, take a look at this picture published in an article back in February of 2017 about bitcoin, where would you say LTC is now? ;)
media.coindesk.com/u...d-a-moon-cartoon.png
Good luck to all, this is not financial or trading advice. This is just my mere opinion and I have been looking at charts for less than 1 year.
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LTC/BTC potential cup and handle on the 1h, lets see if it takes off
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moment of truth for the cup and handle, next hour needs to break us up and out of the handle!
moment of truth for the cup and handle, next hour needs to break us up and out of the handle!
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still holding and forming bullish
still holding and forming bullish
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Haven't been able to look at charts much today and am just ending my day but wanted to post an update as to LTC/BTC and what went down. The original incoming bullish MACD cross was rejected as shown but the handle has formed into a large falling wedge with our first target set to reach back up at the top of the wedge. We have also just had a successful bullish cross on the 1hr MACD. This could be the break that sends us out of the big pennant and soaring but only time will tell. Good luck!
Haven't been able to look at charts much today and am just ending my day but wanted to post an update as to LTC/BTC and what went down. The original incoming bullish MACD cross was rejected as shown but the handle has formed into a large falling wedge with our first target set to reach back up at the top of the wedge. We have also just had a successful bullish cross on the 1hr MACD. This could be the break that sends us out of the big pennant and soaring but only time will tell. Good luck!
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Here's a better view with the resistance bands, sorry it's been a long day I forgot to include it in the original.
The red inside band is our original strongest resistance that we did manage to breakout yesterday... briefly before BTC through us down with it. Here's our second attempt... Will we bounce off and wait some more time before the we take off, or is this it... stay tuned
Here's a better view with the resistance bands, sorry it's been a long day I forgot to include it in the original.
The red inside band is our original strongest resistance that we did manage to breakout yesterday... briefly before BTC through us down with it. Here's our second attempt... Will we bounce off and wait some more time before the we take off, or is this it... stay tuned
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Here's a look at LTC as well, after all this is originally a LTC post and not LTC/BTC. Very similar shaping to LTC/BTC although a little more jagged than i'd like to see to call it a cup and handle but who really knows folks. I've found trading to have many grey areas in the months I've become involved. What I do see, it a MACD pennant closing in and a falling wedge that should bring us up around $128. The box is so long because if BTC decides not to cooperate, we could go sideways or fail and head down further. Good Luck!
Here's a look at LTC as well, after all this is originally a LTC post and not LTC/BTC. Very similar shaping to LTC/BTC although a little more jagged than i'd like to see to call it a cup and handle but who really knows folks. I've found trading to have many grey areas in the months I've become involved. What I do see, it a MACD pennant closing in and a falling wedge that should bring us up around $128. The box is so long because if BTC decides not to cooperate, we could go sideways or fail and head down further. Good Luck!
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And we have failed to break up as bitcoin pulls the market down. Lows should be tested before heading up