Welcome to this quick LTC/BTC analysis.
I have tried my best to bring the best possible outcome in this chart.
Reason of trade:- LTC/BTC Triangle pattern create to buy the dip and retest green zone
Entry:- buy green zone
Traget:- 20% to 25%
Stop loss:- 21MA Yellow line downside candle close
Remember:-This is not a piece of financial advice. All investment...
#LTC / Daily Timeframe
LTC Respecting the uptrend line for 583 Days and will long LTC If we break the inclined trendline and the red Zone. We are already more than 50% Below the previous All-time high.
On weekly timeframe we can see a double TOP near the 350 resistance zone (highest level since December of 2017). After price reached this zone went back down to our 0.786 fib zone and then went up to our 0.5 fib zone.
We can see that the same thing is going on right now, however this time price found support on 0.786 and on 100EMA at the same time.
#LTC/USDT Profit Update:-
$LTC currently trading at $182
And our entry signal was $115-$130
So our Lower entry was also filled.
Now 57% up without leverage.
This is result of patience guys.
I am also holding and booked profit 50% positions here for safe side.
Entry:- $120 ✅
TP1:- $178 ✅
TP2:- $264 waiting
SL:- I placed at my entry level.
Litcoin has gain more buyers so lets ,Hold our trades for longs and once there is a break in the up trend and close then we have gotten a new trend.
So eye out for trend revalsal anytime soon.
I like how it's bouncing off after hitting the uptrend line.
The good part LTC price above MA50 if price broke the resistance at 149.81 so we can go to 200$ easily the opposide if we broke MA50 we can test 125.4 so be ready any way
We can buy some here if BTC Go down orders should be 135$, 130$, 125.8$
Until LTCEUR doesn't cross the white resistance line, we are bearish. The general daily trend is downwards too. The next important levels are shown in green.
-- For educational purposes only. Do your own research before making investment decisions.
💎Technical Analysis Summary💎
-Litecoin is currently trading just above the monthly key area
-Looking at this monthly timeframe, it is more likely to trade sideways
-If we will follow the projection of the upward trendline
-LTC is either move in range until the end of 2021 before deciding to higher or break support
-If you are planning to enter a long...
Similarities in price and indicators can be seen between now and late 2017
Late 2017 price dipped and touched briefly the .618 fib level
Now the price has dipped touching the 1.618 fib level
In both situations a golden cross was present
This leads me to believe a nice run is coming for Litecoin within the year
Buy while its cheap!
LTC/BTC can be seen reaching a critical area within a falling wedge that has formed
while the USD pair can be seen forming a similar price pattern comparable to the 2017 booster that pushed the price to ~300
From this and the Fib Channel I draw the conclusion that Litecoin could hit ~2k by early - mid 2022
One of the first coins I ever owned, can't go wrong
I think a big move is coming for LTC
Just as happened at .618 (labelled 1), at 1.618 Price has climbed over the fib ring for that level, last time it led to an explosion in price
Is another explosion approaching?
Wishful thinking, but also a possible reality.