Rotox
Long

LTC Short Term - 0.01175 Area of resistance to be broken.

KRAKEN:LTCXBT   LTC / XBT
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Just taking a quick look at this after the double bottom seemed to hold from my last idea. With the BTC weekend churn dying down, it looks like we might be ready to go up again. As can be seen from the fibs, and as I've seen in other chart studies on other platforms, this area looks like a good point to break up. Short term targets at the .5(.012235) and .618 fibs(.012764). Trading has been relatively quiet on this pair with increasing volume indicating increasing volatility to come. Barring no major surprises on BTC , it might be time for LTC to accumulate value. LTCUSD also looking healthy for a strike at 30USD.

Also, looking at the CM oscillators, it looks as if we're building momentum upwards. As most of you will know, oscillators can be misleading, so in this case we can pay less heed to the CM_Stoch osc on the bottom and wait for a double sell signal on both osc...but even then, this should only be used as a warning of a sell area approaching.

Good luck as always.
Comment: Didn't break resistance, but bouncing off it confirms that it's there. Now bouncing of lower resistance line as follows...opportunity for short term trade/entry so long as it doesn't break down.

Comment: Took a few days longer than expected, but check this out:



Targets at the .5(.012235) and .618 fibs(.012764) have both been hit, but I think it's going further than this.



New targets of .017140 and .0215 where the fibs line up. News cycle is picking up again with GDAX adding LTC this week as well as LTC due on bitstamp first week of June...as well as first full time dev on LTC.

Let's see how this runs, and good luck.
Comment: We've been pretty much stuck in a sideways movement since I originally posted this idea...it hasn't been very exciting. But the bottom has held, and these fibs aren't yet invalidated. So let's keep the idea open and see how things work out.
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