Lots of alts are getting close to the end of their subcycles. And so does $LTC
We still a need move down with bullish divergences but we're really close...
$79 is a potential target when we turn back up.
PS: Losing 50.63 will invalidate the count.
Hi , sell is right stratégy for me now. The reason is simple . Week candle (weak) below rezistance . You remember that level 8000 usd must to be broken for next move down . In case 8000 will hold , I will turn my trade .
Efforts are being made to climb above 1000MA.
Again the MAs are converging.
It is expected to rise as soon as it converges and exerts power.
If there is a climb, you should check if you can touch 3000MA, 2000MA and 0.009811 points.
If the price could rise before the 2000MA and 3000MA are reversed, I think it is the best flow.
Price might in retrace but in the process build a head and shoulders. The breakout target from the falling wedge at 0.008 is still valid, but if the head and shoulders plays out, price will fall back into the falling wedge.
Litecoin made a huge dip today and pumped back. At daily chart that looks very unnatural. I really can't say, what will be the result of today's volatility, but now LTC is targeting 6550-6600, and breaking above looks very very unlikely. Most probably will pullback to one of previous support levels and hang around there. Overall chart is bearish.
Today’s chart update will be on LTCBTC where it failed to break the 200 MA, putting in yet another lower high in the bear trend.
Points to consider,
- Bearish structure
- 128MA current support
- 200MA is Major resistance
- Stochastics topping out
- RSI hitting support
- Volume below average
Litecoin, overall has been putting in consecutive...
Broke down from ascending trendline on LTF after losing the 666k sats support level
UCTS Sell signal on the 4H
Looking for a retest of 610k sats support level from here prior restarting the trend up
I am only going to speak about the bull scenario. LTCBTC already broke out of long term falling wedge and retested it. Now it broke out of a descending channel and retested, which is very bullish. It is now in bull pennant. Measured move of the bull pennant is 0.007, but measured move of the pole is 0.008.
If LTCBCT breakdown from the pennant it will fall back...
The setup seems to be almost perfect, after a big drop from 145 up to almost 35, making the size of the H&S very good. This would mean, similar to ETH, that would should see a correction coming weeks, towards 50/55. The right shoulder can take all kind of shapes, so it's guessing on how it could go from now on. Even a break of last weeks high and then drop is...