TradingView
Sherem
Oct 15, 2018 9:04 PM

LTC Prepping for a massive move Long

Litecoin / DollarBitfinex

Description

We have been long from $55. LTC has had this broken wedge probably for the longest period of time. We have carved a bottom out at this $50 area.

MACD has crossed to the upside and is looking to build momentum. Once we break above this $70 zone, we will be moving much higher.

If we use Fib's for our targts, the first target would be in the 175 zone. We'll gauge once we break 175 to see how fast and high we go up.

Happy hodling,
-Sherem

Comment

previous analysis where we started going long at 55-

Comment

Hit that like button show your support! Thanks!

Comment

LTC is not getting as big of a move, needs to get to 60 and crack it before a big move happens
Comments
andoverg
The weeks before and after Nov. 24, 2014 lead me to be a bit more cautious here. But I am wishing the best for you!
dr34man
@andoverg, why is that?
andoverg
@dr34man, same setup on the weekly as of Nov. 24, 2014, as this: the crossing of the macd and price action. Only it went down and the macd crossed back within a couple of weeks. Not that it has to do that again, I personally just prefer the confirmation before the trade. But that's just me, and I lean to the conservative side.
arandon
shit, I checked 20+ of your previous charts and almost every single idea was a failure. It's almost like I should do the opposite of what you're suggesting
Sherem
@arandon, Crypto hasn't been doing much of anything over the last couple months. If you are looking for someone to just sling trades, yeah go check out someone else and lose money. I ladder and am a patient trader. I don't shill anything because I make money trading, so you can take my analysis fwiw to you.

Of course, if you were following me you would know the significance of this gold line in BTC as it still has not broken, that I identified early on where other traders were just spewing garbage shilling their services. You could have played this 6.3k over and over again.



I laid out my ETH guide calling the bottom around $200 before anyone.


My calls on LTC have been pretty good, I would say:


I called long at $55 on LTC. Plenty of opportunity to get out if you felt like it:


Vix: +50-100%


GBP/JPY +200 pips
arandon
@Sherem, trust me, I hope you're right with your LTC analysis.
Sherem
@arandon, Thanks. It will go up, but bucking a down trend takes times, people have to be convinced it's done and we are getting there.
InvestingScope
Clear Channel Down towards at least 44.000:

RichieLaBamba
easyMarkets
Nice long-term idea on LTCUSD, we have the same bullish bias on LTCUSD, however it’s a shorter term view. The first support level that we’ve identified is at $50.58 which coincides with the bottom area of $50 which was stated on your analysis! Our support level at 50.38 is backed by a horizontal swing low support, 61.8% Fibonacci extension and 78.6% Fibonacci retracement. As indicated on your analysis, MACD did made a cross, which most traders use as a precursor for bullishness.

Should you be interested in a short-term look of LTCUSD, do take a look at our idea and let us know what you make of it.


More