LTCUSD - Running flat or running bears?! Education

Litecoin / United States DollarCoinbase

Description

⋅ Aug 23, 2018 5:49 PM

Similar price action with EOS but may be forming a triangle while EOS is either on a complex B or an ending diagonal (this is more likely).

5H RSI similar to Bitcoin, its either do or die as we get closer to the weekend.

There is no good entry here at this time although the closer it is to 54$ the better.

Running flats are uncommon this is just for monitoring.

Comment

⋅ Aug 28, 2018 9:42 AM

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⋅ Sep 1, 2018 5:32 PM

Seems like it reached the target. Congratulations if you took the trade -I didn't.

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⋅ Sep 4, 2018 8:16 AM

Targets if bearish, $30-$40.

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⋅ Sep 4, 2018 8:17 AM

Care for a pullback on this areas, it may as well be the top for this month.

Comments

Crypto_Ramen

⋅ Aug 24, 2018 5:46 PM

Breakout?

Acel

⋅ Aug 24, 2018 6:02 PM

@ninedays, it could be, with a very short E wave on the triangle. I want to see a pullback with HL around ~56-57. It should have one more little push upwards.

UncannyDeduction

⋅ Aug 23, 2018 6:34 PM

I don't like how LTC is looking. I would be happy to be wrong about that since LTC is such a loved coin. But I can't see it breaking ATH within 5 years. That sounds impossible. I hope I'm wrong.

Acel

⋅ Aug 23, 2018 6:43 PM

@LogicalDeduction, it looks bad cause its completing its first market cycle - 5 waves up, 3 waves down. The general rule is, the deeper it retraces, the harder it bounces (eg. Amazon).

Now, when that's gonna happen, you definitely know better than i do. ;)

UncannyDeduction

⋅ Aug 23, 2018 6:48 PM

@Acel, I have no clue for this one. I would believe that there is a bottom at $40. This is the cleaned up chart:

Acel

⋅ Aug 23, 2018 6:55 PM

@LogicalDeduction, i havent put much work on the LTC chart since my last idea which was months ago. I see targets on 40, 30 and 20 so far.

40 has a VPVR gap so reversal should be a V shape, if its there. The other 2 have more confluence but its still early dw, this move has to end first. It can always double bottom if the bounce is a big one (70-76).

UncannyDeduction

⋅ Aug 23, 2018 6:52 PM

@Acel, LTC $40 in Jan, but other things should be much lower if I'm seeing things right. I'm thinking some of the good coins being 1/10 of what they're now in November. Ok that sounds strange also.