TradingView
D4rkEnergY
Apr 13, 2018 5:00 PM

Litecoin And Classical Charting - No Elliott Waves. Promise! 

Litecoin / DollarBitfinex

Description

Hello Dear Friends! :)

Today we are gonna look at only classical charting, and try to identify the different patterns. This is an educational chart - I hope you will enjoy it!

Let's start from the left:

1. Bear Flag (Steep downtrend, followed by a small consolidation to the upside, and then another steep downtrend)
2. Broadening Ascending wedge (bearish pattern)
3. Down Channel
4. Ascending Triangle (bullish pattern)
5. Symmetrical Triangle (neutral)
6. Another Bear Flag
7. Ascending wedge (bearish pattern)

8. Bullish MACD-Cross (When the blue line crosses the orange, which means that the bulls are gaining momentum)

9. RSI - Regular Bullish Divergence (The price is making lower lows, but the RSI is making higher lows, which means, that we are about to end our downtrend and will go into a reversal)

Can you find other patterns?

D4 Loves You <3

Please leave a LIKE for this alternative educational post :)
Comments
darkandblue
Thank you for the analysis. There is clear bearish divergence on H1 and H4 frames which might mean that we will get a pull back for a good entry point.

This year will be LTC year
CryptStart
Free BTC signal
Smoak
It is about to go to $162.00. I'll draw up litecoin chart shortly. If you need to verify accuracy here are two recent calls:





TheDudeForex
@Smoak, too sure to be taken serious
Smoak
TheDudeForex
@Smoak, No offence, I'm just always cautious with people who say "it is going there' like we can be certain in uncertain environments like the market.
Smoak
@TheDudeForex, None taken. You are right that there are no certainties. Here is my take on litecoin and why we see 162 and perhaps a tad higher.
Smoak
@TheDudeForex, Forgot to post the chart.

Russslayer
@D4rkEnergY love this post. Simple and informative. Hope to get more educational posts from you. Keep up the good work .
TreyA7
More