It looks as though Litecoin may be forming a new triangle. I have a suspicion we will begin to coil yet again in this larger triangle before finally punching through our ATH with another long green candle much like the one we saw yesterday. This next coil process, if it proves to be true, could take up to a month to form before we see our next big punch through....
Nice bow draw reversal back into wedge. Pos divergence and %R both say up. 200 MA just above, 8, 20 and 50 just below. We'll see.
Plan is to accumulate dips with risk on 18.15 for a swing. This chart is coiled up and looks like it could be a bull flag. I would take partial profits into 22 area resistance
Right now, we are in a symmetrical triangle and we are going to have fake-out moves on the smaller time frames like we did just a few minutes ago that don't involve any real volume. Now we can see that consolidation is almost over and it's almost time to choose a trend. Since we made the peak at $315, we've had several patterns that might indicate a move, when...
This month's price action in the DXY has been extremely strong. It's hard to appreciate it from this chart, but there has been bull day after bull day recently. Should the financial crisis highs of 2009 be taken out this time, we will have a very interesting setup for a strong multi year move up in the dollar. The coiling price action since 2008 could provide...
There was Cypher Pattern and it coiling hopefully it will "explode" soon :)
Considering macro and technicals, I would not buy my position at levels above $77 - I would even be patient enough to start accumulating new positions at a major down day/week at around $75 or a little below. It'll have to be a patient spring/summer! What do you think? Am I right to wait this out?