This is my first post on Litecoin, since my AU broker finally allows us to trade this currency pair.
From the D chart on the left, a recent strong support found at Fib ret 50% & the low price retested the support upward trend line.
Ichimoku tells us this currency pair is going upward.
From the D chart on the right, uptrend evidences are 20 EMA is above 50 EMA,...
At the beginning of this chart, we can see that the resistance levels for LTC became support once broken, and followed was a bull Elliot waverun from $74 > $103USD.
The trend angle for this Elliot run was of 41 degrees. It is worth noting that the latest uptrend for LTC has followed a very similar angle, this time at a 45 degree angle.
The original (green)...
From current analysis, it looks like we are in the 5th wave of this rally but not quite done yet. Comparing the previous rally from August to September... the levels of the wave 1 and wave 3 are similar to the current rally. Trying to estimate the end of the 5th wave, I looked for the level reached in the last rally which was just above the 4.76... RSI levels...
This is my view of Litecoin. From what I see it has been for the most part trading in an upward channel, I could see this continuing over the next couple of months,
giving traders buying opportunities near the lower trend line and selling opportunities near the upper trend line. I have not really been trading Litecoin, I am in it more for the long-term (min. 1 to...
1. Long on break of 38.2 Fib (61.8 of reversed Fib) of September high/low range
2. Momentum on steady uptrend - RSI & RSI Composite index moving averages crossed higher
3. RSI & RSI Composite index levels above moving averages
3. Good volume on break
4. Final target: 161.8 Fib extension of September high/low range
We've officially broken out of the longer term triangle we've been in since September. Still too early to tell for sure yet, but as of now things are looking good -- we've retested the top slope of the triangle 6 different times in the last hour and held fine for the most part. Definitely promising. The more times we do this, the more we consolidate it into a...
Looks like we're in a new pendant. Should see a break before December 5th.
Points to watch:
Resistance 1: $63.70 Current top of pendant, will lower day by day
Resistance 2: $62.50 Multi month support/resistance
Support 1: $56.40 Multi month support/resistance
Support 2: $54.75 Multi month support/resistance
Support 3: $54.35 Current bottom of pendant, will raise...
We're coming to the end of our 2 month triangle. I'll be looking for a clear break sometime in the next 100 hours. That presumes trade volume will increase, but in general it's fairly reliable.
Support 1: $55.85 (weak)
Support 2: $55.31 (weak)
Support 3: $55.00 (strong. This is the bottom of our triangle. If we break and hold below it then we risk a large...
Here are some resistance points for those interested. This is less of advice when to buy or sell, and more a reminder of the points we should be looking at.
$53.30 This is the bottom of the triangle that's held for the past 1.5 months. Dipping below it for a bit is fine, but if we have a sustained breakout this signals potential problems to come.
We are in a consolidation at possibly 57.30 for the next several days and possibly weeks. Look for very low volume at one of the Fib levels. As noted, the fib. ratio of the high/low spikes to range is exactly .382:1. I'm seeing a very profitable exit point at the golden ratio of this range. We need to see consolidation for this to happen.
Everyone seems to be freaking out about how LTC isn't rising in parity with BTC. Quite frankly? If you're interested in fiat value then that concern massively premature.
This is the triangle I drew 6 days ago. Looks like we're still within the expected bounds. LTC may drop again -- potentially all the way down to 52.80 -- but if it does then it'll come back...
I can't tell you if LTC is about to go up. Almost no one can. But what I can mention are some resistance points to pay attention to. If we break these points, and hold above them, then things will start to look up.
Keep in mind my position is long. This will be less useful for day traders.
Points to watch:
$50.00: If it dips and holds below $50 then we may...