The daily chart shows that there is a big FIB number at 97 that stopped this trend dead in it's tracks.
LTC has broken out of both it's longterm downtrend channel plus it's current uptrend channel. We are currently sitting on top of the uptrend channel line and could see a significant bounce from here but beware we are making bear flag patterns as shown on the lower timeframes which point to more downside here.
Weakening flags shown on the 4H chart point to more downside. DMI is negative.
We are curently riding just above the daily uptrend channel line providing support.
The keltner channel was broken on the 4H chart and we are creating a flag pattern.
If we close a 4H bar below this upper channel line i will be targeting the 62 area for the next drop
which is the confluence of the center of the uptrend channel and the preceding consolidation phase.
The 1H chart shows a bullish flag forming in this major support area. I will buy a breakout of 81 with a atarget of 85.50 at the downsloping trendline area.
LTC has broken out of both it's longterm downtrend channel plus it's current uptrend channel. We are currently sitting on top of the uptrend channel line and could see a significant bounce from here but beware we are making bear flag patterns as shown on the lower timeframes which point to more downside here.
Weakening flags shown on the 4H chart point to more downside. DMI is negative.
We are curently riding just above the daily uptrend channel line providing support.
The keltner channel was broken on the 4H chart and we are creating a flag pattern.
If we close a 4H bar below this upper channel line i will be targeting the 62 area for the next drop
which is the confluence of the center of the uptrend channel and the preceding consolidation phase.
The 1H chart shows a bullish flag forming in this major support area. I will buy a breakout of 81 with a atarget of 85.50 at the downsloping trendline area.
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We've got a decent breakout going on here. I will sell some into strength near the downsloping trendline and rebuy the retest of around 81.80 before we head higher.
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on track to move higher
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Dont think we've bottomed yet. Still riding along the upper channel line inside this large bullish flag pattern. Im thinking we need to go down to around the 72 area to complete this pattern.
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We broke a trendline but i still aint touching this yet. Most of the crypto sector is making bearish flags now. BTC looks better than most of them. I need BTC to break out of the structure before i get interested in LTC/ETH etc.
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BTC is one of the only cryptos near its highs. Most of the sector is weak so i am considering BTC an anomoly and not buying it's fakeout. I need to see total market cap making new highs or forget it. LTC makes yet another bear flag. I have identified a super support level by confluence of many support levels where i will take a small position in litcoin (circled).
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a little closer baby... come to papa...
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Close enough , i just bought the bottom of this pinbar at 70.25 Let's see where we go from here.
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LTC is down to my MAJOR support area again which is 70 bucks. Is this the place to buy? I dont freaking know but its better than 96. Ill continue to hold my position with a stop loss below 69 (i like to sleep at night). Crypto could go in the shitter here or to the moon. Nobody knows. It will take a few re-entrys (and losses) to get going the right way. Good luck. I think LTC is leading the way though so it is THE crypto to watch for clues for the others.
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LTC is worth a gamble here at these levels. Be aware that the down trend is gathering strength so this move might be short lived. I love day trading so this is right up my alley. Im going to exit after a short rally. This might be a major bottom or it might continue to lose and is why you need a stop loss entered at all times.
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How about some upvotes you leeches? or i will discontinue posting stuff.
Trade closed: target reached
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232 views and 1 upvote... so i have 232 losers that dont know how to do TA that look at my stuff and ive been right the entire trend from the top down but only one of them chose to upvote me.... i thin tradingview needs to implement pay per view for posters as we have many great technical analysts posting here and a bunch of lazy leeches who cant even click a like button viewing them every day.
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To Tradingview: Let analysts see who is following them by username , also who upvotes or downvotes and ability to block them mfrom viewing their content like most othe social media sites.
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235 views and 1 upvote... so why are you shmucks viewing my charts if you dont like them?
BTC is not done going down... if you have money in this prepare to lose a bit.
BTC is not done going down... if you have money in this prepare to lose a bit.
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Someone deleted my post where i exited this with a profit... nice
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I bought at 70.25 and i sold at 75 and those posts are now deleted for some reason.... is this getting like twitter?
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I guess i need to repost this AGAIN as i clearly posted to get out below 73 and get back in at 69 and those posts have now vanished. Is Jack Dorsey in charge here?
Anyway... if this one doesnt get nuked... 69 is a super level to buy but use a stop loss!
Anyway... if this one doesnt get nuked... 69 is a super level to buy but use a stop loss!