Good afternoon traders!
I'm posting a longer term chart today, in this chart I want to highlight a few things of importance. We've never been so closely tied to the hip with BTC as we currently are in my opinion, what I mean by this is that breakouts, and downtrends will only happen when BTC allows it. We need a healthy BTC or a sideway trading BTC to make our next real impulse up.
In the chart you can I've shown you some of the various indicators I use, and everything points to us clinging to BTC. I have made a BTC chart which shows my opinions on it, and as a result also heavily impacts LTC. To see that chart please click the link below.
Today is arguably the most critical day for both LTC and BTC in the past 3 months. We have a daily close below the 50 MA on BTC, as well as a possible breakout upwards forming, but if it fails, we're looking at the serious correction everyone's been speaking of over the past month. BTC needs to close above the 50 MA today, or we're going to be seeing 8k BTC in the near future.
As always, if this chart receives 15 likes I'll continue to update it.
Remember traders,
We are at a critical junction. Trade very carefully and wisely. Best of luck to you all!
I'm posting a longer term chart today, in this chart I want to highlight a few things of importance. We've never been so closely tied to the hip with BTC as we currently are in my opinion, what I mean by this is that breakouts, and downtrends will only happen when BTC allows it. We need a healthy BTC or a sideway trading BTC to make our next real impulse up.
In the chart you can I've shown you some of the various indicators I use, and everything points to us clinging to BTC. I have made a BTC chart which shows my opinions on it, and as a result also heavily impacts LTC. To see that chart please click the link below.
Today is arguably the most critical day for both LTC and BTC in the past 3 months. We have a daily close below the 50 MA on BTC, as well as a possible breakout upwards forming, but if it fails, we're looking at the serious correction everyone's been speaking of over the past month. BTC needs to close above the 50 MA today, or we're going to be seeing 8k BTC in the near future.
As always, if this chart receives 15 likes I'll continue to update it.
Remember traders,
We are at a critical junction. Trade very carefully and wisely. Best of luck to you all!
Comment:
Hourly MACD rejected on BTC, I've exited my positions.
Comment:
D'oh, it's been accepted now, still in a wait and see for further action, am currently not re-buying.
Comment:
First up is BTC.
As promised, here is an update to our situation. We could be looking at a symmetrical triangle on BTC. Please see the picture for potential buy zones *for BTC* if a breakdown occurs.
Key Notes:
This can technically still break upwards, but if we combine the fact of all the negative indicators (VFI divergence, monthly RSI's, low volume, MA crosses, and general bad sentiment) I'd say the likelihood of a break downwards is much more likely.
Now to LTC
If this movement happens to BTC we will see a breakdown of LTC, to what I imagine would be towards $206. I'm going to goto bed, but I'll do a more detailed LTC analysis tomorrow based off whatever happens tonight.
Trade carefully, and best of luck!
As promised, here is an update to our situation. We could be looking at a symmetrical triangle on BTC. Please see the picture for potential buy zones *for BTC* if a breakdown occurs.
Key Notes:
This can technically still break upwards, but if we combine the fact of all the negative indicators (VFI divergence, monthly RSI's, low volume, MA crosses, and general bad sentiment) I'd say the likelihood of a break downwards is much more likely.
Now to LTC
If this movement happens to BTC we will see a breakdown of LTC, to what I imagine would be towards $206. I'm going to goto bed, but I'll do a more detailed LTC analysis tomorrow based off whatever happens tonight.
Trade carefully, and best of luck!
Comment:
Good evening traders,
Today we saw a failed breakout of BTC, looks like titanic will be sinking again.
With that in mind we're currently looking at a 4h MACD crossing up rejection on LTC, a breakdown of the latest uptrend channel, and MA crossings forthcoming.
We could see a bounce (as could BTC) in the low 220's, however if that fails to hold we will be going much lower. Please see the chart below for possible buy zones.
As always, if you find this useful, please support me by hitting the like and follow button.
Good luck traders, and trade carefully right now.
Today we saw a failed breakout of BTC, looks like titanic will be sinking again.
With that in mind we're currently looking at a 4h MACD crossing up rejection on LTC, a breakdown of the latest uptrend channel, and MA crossings forthcoming.
We could see a bounce (as could BTC) in the low 220's, however if that fails to hold we will be going much lower. Please see the chart below for possible buy zones.
As always, if you find this useful, please support me by hitting the like and follow button.
Good luck traders, and trade carefully right now.
Trade closed: target reached:
Target reached, I got in low 190s.
If you find my information helpful, please return the favor and hit the like and follow button, it's very encouraging and keeps me motivated!
Twitter: twitter.com/Jedi_ant
Twitter: twitter.com/Jedi_ant
