I see LTC heading towards 100s region, to the 109€ hopefully. Consistent with my previous ascending triangle analysis, it is still leading to the same conclusion. The wave 2 was false breakout in terms of triangle as volume is low. Highest width of triangle takes you to 105€. So it’s very consistent with Elliott. Let’s wait and see.
P.s I’m not your financial...
I just got another entry from the automated strategy I'm coding, will it go another 10% up ?
Anyway it looks like the resistance is not showing any strength. What do you guys think ?
Will Halving block rewards announcement push the price even further ?
We can see an ascending triangle about to break. This is a bullish indicator. Will wait another day and monitor closely. The resistance horizontal line becomes support, which is around the 23.6 fib level of the ever high to the most recent lowest level at 88€. I expect price will break by same highest width of the triangle, which means towards 102-104€.
LTC/EUR seems ready to explode, but it may not happen at the first attempts.
I'd recommand to sell as soon as we enter the 80 to 100e area.
Will rebuy if we don't breakthrough.
If we manage to close this week or the next ahead of 110e, get ready for EXPLOSION!
LTC had a well respected resistance at 45 EUR, and it managed to brake above it!
Right now I have outlined a channel (Light blue trend lines) in which LTC is moving in for the past 44 days.
Right now LTC has made a Double Top pattern. That could lead LTC to retrace back to the support at 45 EUR.
I am looking forward for an Entry at the 45 EUR zone ( Green...
I've noticed LTC is about to drop hard. Daily RSI is diverging heavily from price. It has diverged four times, so it will necessarily drop.
This is not financial advice. I won't be responsible of anything if you base your trading in this idea.
Have a good day. =)
my think to litecoins future is very green.
One more strong resistance to go.
I think markets has enough momentum to break resistance, but if not litecoin (in my opinion) goes to last months average and in future has big potential to go up and break resistances.
Comment if something is horribly wrong in my thinking.