KRAKEN:LTCUSD   Litecoin / U.S. Dollar
Hello friends, today you can review the technical analysis idea on a 1W linear scale chart for Litecoin ( LTCUSD ).

The Litecoin chart is on a weekly basis to show the life cycle of Litecoin on this chart. Price was around $200 in December 2021 when I started sharing my concerns with the crypto market. I hope you took that advice seriously at that time, as Litecoin is now around $50-$55!

The current price has broken below the S/R 1 line with potential to test S/R 2 line. Fibonacci Retracement shows the Golden Ratio (1.618) around the lowest level of support (see chart). On the positive side the Litecoin price has potential to resemble a prior cycle pattern move which could push the price higher. I don't want to get too excited yet as the Volume is decreasing however MFI seems to be moving higher. RSI has the chance to move back up to test the S/R line.

Read the chart carefully as there are a lot of notes on the chart.

Lastly, this is the weekly chart so have patience!

Included: Fibonacci Retracement , RSI , MFI , Ichimoku Cloud , and 200 SMA , Volume , Volume Profile (VPVR).

If you enjoy my ideas, feel free to like it and drop in a comment. I love reading your comments below.

Disclosure: This is just my opinion and not any type of financial advice. I enjoy charting and discussing technical analysis . Don't trade based on my advice. Do your own research! #cryptopickk

I chart on Tradingview:

I hold crypto on Ledger Hardware:

I find value in the data from LuxAlgo:

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