LTCUSD looks to be in an ascending channel and can be seen by white trend lines.
from this we can takeaway that it is still holding uptrend.
Bottom trend line resistance has been tested over 6 times and is STRONG.
Breakdown below this is a big red flag, I recommend setting stop loss a little under bottom channel trend line.
It could potentially head to $40 hard...
LTC showing bullish divergence on MACD + RSI, bullish wedge forming at this level. With Bitcoin looking bullish Litecoin is ready to follow, watching for a quick breakout if we get some volume.
Re-evaluate the trade if we hit T1 otherwise letting the tight stop hit and look for a remount play
Normally dont go for small time frames but this looks like a good RR...
Litecoin is looking bullish to reach past $60 mark again when the market spiked ($62) after the crash to $36 with the closure of the Chinese exchanges. Bitcoin is stabilizing above $4000 USD with the upcoming friendly fork of Bitcoin Gold -0.30% so Litecoin is looking to hold above $50. Look to swing trade between $52 and $56. First wave of Chinese exchanges are...
Litecoin is looking bullish to reach past $60 mark again when the market spiked ($62) after the crash to $36 with the closure of the Chinese exchanges. Bitcoin is stabilizing above $4000 USD with the upcoming friendly fork of Bitcoin Gold so Litecoin is looking to hold above $50. Look to swing trade between $52 and $56. First wave of Chinese exchanges are closing...
Due to unresolved regulation influence from China, the price may hover around the black speed line. Although it may go up to 308CNY by the middle of October, other crossing points with red circle marked in the chart are still possible.
In related news, crypto devs are mildly autistic at best.
Charlie Lee is very sad about what he did and banished himself from Twitter for a few days. Problem solved right?
Wrong.
At the time of the tweet, LTC was nearly 450 Chinese yuan. Actually, it was exactly 450 yuan. Its a nice healthy round number to put a short in at. But hey, Charlie is a nice guy and...
1. Price of LTCCNY may bounce around the red bold line and climbing up gradually.
2. Based on the past movements, when price climbing over the red line, its movement becomes much more emotional and dramatic.
3. However, the price will eventually touch the upper green dot line. (Comparing to what happen between middle of May and middle of June.)
After a labor day weekend sell off in crypto, litecoin appears to have formed a support trendline for its base and accumulation for it next run up. Volume is low but volatility remains high. This looks to be an opportunity to go long on litecoin. With lightning network going live, atomic swaps, excellent dev support, litecoins solid history, continued adoption...
When correction comes, first support range may fall on 425-435CNY, if break, then looking support by 409CNY. The uptrend will continue after the would-be correction.
LTC has been pretty consistent and we're seeing the rotation into LTC that typically happens after a BTC move. The cycles have been consistent but it looks like LTC wants a higher ratio to BTC based on volume profile. This tells me that LTC could have significant upside moving forward. Not only is USD, but more importantly we can see the technical upgrades...
A Descending Broadening Wedges Pattern is formed. Price may go up to 325CNY, even 340CNY. However, if decline down to the upper guideline at 270CNY, downtrend may come.
I'm new to trading, this is something I'd like to share with you guys. According to the daily chart pattern, LTCCNY may form a Symmetrical Triangle in the coming 2 months or so. However it still needs at least one more minor high for this formation to be concrete.
