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?
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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
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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:
This year will be LTC year