Litecoin is inside a pretty nice looking ascending triangle that spans until April 15, 2019. The momentum oscillator is signaling we should have a bullish cross coming in soon. Look for LTC to possible touch the bottom trend line on the ascending triangle before making its way to the top to try and breakout! Some slow consolidation days inside this pattern should lead up to an exciting breakout!
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This is not financial or trading advice. Trade at your own risk.
Be sure to leave a thumbs up if you would like me to keep posting ideas!
This is not financial or trading advice. Trade at your own risk.
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First Price Target
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We have just broken our yellow support! If this doesnt wick up and hold, we will be testing the bottom of the triangle at approx $85. This is also where we will find support for the 200 MA.
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We are having trouble really breaking out of the green channel top. We've gone out only to fall back on it as support and are currently testing it now. The 50 EMA will touch the 200 EMA in a matter of hours which should give us some movement. If we are to breakout of the bottom of the ascending triangle, look for support at the .382 ($82.39) and 0.5 ($78.15) fib levels.
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One important thing to note is what BTC is doing right now as all coins rely on King BTC for the most part. When BTC goes on a rise to 20k, so does the market. When BTC enters a bear territory, so does the market.
Well BTC is even closer to the end of its ascending triangle than LTC is so it should show us the way!
Well BTC is even closer to the end of its ascending triangle than LTC is so it should show us the way!
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Bitcoin has broken out of the triangle! $5900 could be on deck! This will most likely bring LTC up to the top of the ascending triangle for a chance to breakout even further!
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Litecoin experienced a massive shakeout! We are now sitting pretty atop the previous resistance, now support (green).
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All hands on deck! The volatility today has been crazy! Heading to the bottom of the triangle lets see if it holds!
Trade closed: stop reached:
Broke out of the bottom of our ascending triangle and have found support for now on .5 fib
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