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.
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.)
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.
LTCCNY - OKCOIN
As we can see bullish flag perform, if confirmation line break up, target will be at 334.76
#thanks for Inct73 to help me analyze this.
This analysis not include personal feeling/opinion, and pure base on technical analysis
Trading foreign currencies can be a challenging and potentially profitable opportunity for investors. However,...
CAREFULLY WATCHING THAT TRENDING RESISTANCE LINE AFTER THE BREAKOUT HAPPENS I HOPE IT LL RETEST THE 254CNY MAJOR RESISTANCE AND STARTS THE BULLISH MOVE.
IN ANY CASE IF IT WOULD BREAK BEARISH 254CNY SUPPORT LINE AND MAJOR RENDING SUPPORT I EXPECT HUGE BEARISH MOVE TO BE HAPPEND.
As you can see, that the re bounce of LTC is not strong enough, and it has been suppressed by the lower pink track, so as what I see is the left shoulder has been formed, also the Stoch RSI has cross down in the over bought zone.
So, the neck line around 255YUAN will be test again, which is also the MA144 of 6H, if it breaks, I believe LTC will reach 50~61.8% Fib...