Hello traders and crypto folk, this is a more elaborated version of my previous post
. This is not financial advice, but merely my opinion based off the 1 Day Chart of LTC and you should not participate in investing in LTC merely based off of this post - crypto is still relatively new and NOBODY can tell you exactly where we are headed, but we're all headed there together. I am not a financial advisor.
The first bullish signal on the 1 day chart is a three drives pattern we have fallen into and have currently been consolidating around. This also happens to be the shape of a falling wedge which in charting is typically a bullish signal.
The third bullish signal is we have hit and stayed above the long term trend line spanning back to when LTC was less than $10. This is a crucial support to stay above.
The fourth bullish signal we have is from the wave trend indicator which is showing us a double bottom has just occurred which previously have been followed by a reversal to an uptrend. The wave trend has also started to curl upward which is a nice bullish sign.
The fifth, a low CCI spike up which has previously led us into an uptrend.
And the sixth, oversold RSI spike up.
If parameters were based off of the three drives pattern/falling wedge, I would expect a price spike to around the top of the wedge or, i ($300-$375) the question remains on how long it will take until we get there.
If you liked this idea, please like and share this post and I'll keep it updated. I also think LTC/BTC has a big role in this and if you've made it this far reading this post, here's a little extra:
LTC/BTC has just bounced off the bottom of the 1D bull flag and created a wick. It should, but could also not be, up from here.
Good Luck!
The first bullish signal on the 1 day chart is a three drives pattern we have fallen into and have currently been consolidating around. This also happens to be the shape of a falling wedge which in charting is typically a bullish signal.
The third bullish signal is we have hit and stayed above the long term trend line spanning back to when LTC was less than $10. This is a crucial support to stay above.
The fourth bullish signal we have is from the wave trend indicator which is showing us a double bottom has just occurred which previously have been followed by a reversal to an uptrend. The wave trend has also started to curl upward which is a nice bullish sign.
The fifth, a low CCI spike up which has previously led us into an uptrend.
And the sixth, oversold RSI spike up.
If parameters were based off of the three drives pattern/falling wedge, I would expect a price spike to around the top of the wedge or, i ($300-$375) the question remains on how long it will take until we get there.
If you liked this idea, please like and share this post and I'll keep it updated. I also think LTC/BTC has a big role in this and if you've made it this far reading this post, here's a little extra:
LTC/BTC has just bounced off the bottom of the 1D bull flag and created a wick. It should, but could also not be, up from here.
Good Luck!