According to LTC this month is current cycles' COVID CrashAs you can see from the peak of the previous cycle until the COVID crash and final flush-out was 27 months. Also notice the previous months of the crash was a failed retest of the logarithmic downtrend line. It took 6 months to retest the line again and 8 months total to break it. This would put the current cycle retesting the trendline in February 24' and then breaking it in April 24'.
History doesn't repeat but it rhymes.
Trade ideas
TRADE ALERT - LONG LITECOIN (LTC)Another entry here for me in Litecoin. It actually missed my trigger buy at $77.50. But I didn't want to wait anymore. Bought at 77.12. SL is 71.69 for now. Will take profits along the way with an overall target of $106.
A little more on why I took this trade. Of course, fundamentally, you all probably know that halving occurred. The market sold the news and now from a technical standpoint, little Litecoin looks to be oversold. You can see on the RSI chart below that every time we hit that ascending red TL, we popped for a gain of at least 50%. Every. Time. Thus, probability here remains largely in our favor just from this one indicator.
Now follow that black vertical line up the chart. You will notice that it intersects with our candle today which lies directly on strong support (red TL) from December of last year.
Could we break below these major trendlines I have drawn on all my charts and get stopped out? Well yeah. Of course! But I like my chances here.
This is not financial advice. Just showing you all what I am doing here.
Best,
Stew
Litecoin halving in 4 daysThe next Litecoin halving is estimated to be in 4 days 19 hours on 8/03/23 at 12:39 UTC. Litecoin halving is the event where the number of generated Litecoin rewards per block will be halved (divided by 2). The total number of Litecoin mined by miners per block will reduce from 12.5 to 6.25 LTC in the next Litecoin halving. Halving occurs every 840,000 blocks (approximately every 4 years). The next Litecoin Halving is Block #2,520,000.
Litecoin has been trading in a sideways range for 6 months now. With a low of 65 and a high of 115. Whatever happens to Litecoin price action this Thursday will send a clear message to the entire crypto community. My speculation is that LTC halving will have a bullish impulse leading up to the halving followed by a bearish selloff after the halving. Here's LTC levels on the 1 day chart.
TTC ATR VWMA21
r3 = 112
r2 = 106
r1 = 101
VWMA21 = 95
s1 = 89
s2 = 83
s3 = 78
Litecoin False Breakout - Back to $40?Not really a surprise here. After briefly heading higher, Litecoin has drifted back into the range it's been in since the beginning of the year. Since the failed breakout, I think it means Litecoin will need to test the lower bounds of the trading range and hope to God it finds buyers.
I called the end to the rally a bit prematurely a couple of months ago:
You can see that Litecoin is right back to its breakout level and losing support at the 4H 200 MA (teal).
My speculation is that intentional distribution has been occurring, which would explain why it's been stuck in this price range for a while without meaningful volume, despite various attempts to break higher punctuated by strong selling action. The recent pump resulted in a harsh rejection from the 100 week MA (yellow), and a dump back below the bear market downtrend.
Since crypto profits from hype, my guess is the "halving pump" is already over, and sellers have taken their gains. The lack of engagement on TradingvIew with new crypto-related posts also tells me that retail is long gone.
My bearish idea will be invalidated if Litecoin can sustain above the trading range, and especially if it can hold above $100 for a meaningful period of time. Litecoin will also need to continue holding the 50 week MA.
For confirmation of my idea, we will need to see a quick breakdown soon, followed by a breakdown of the $70 range. If it does manage to break down, then $40 better hold, or I think we can see new lows, due to lack of demand and liquidity.
Let's see!
This is meant for speculation and entertainment only. I could be totally off-base here. But, I'm sticking to my bearish guns. Thanks for reading!
Litecoin Shows The Way Down The Toilet LItecoin is currently barely holding onto the 200 day MA (teal), and has already retraced heavily from its pre-halving rally peak while failing to get back into the long term uptrend channel. In mid-2019, when LTC began breaking down, it was a sign the market-wide relief bounce was over. Now, the environment is way worse. I'm not going to even bother deep-diving on what's happening with Bitcoin at the moment, but it just goes to show you that the tech is not adoptable and is very unlikely to save the general public, even if banks collapse. If banks collapse, we have a lot more to worry about than the next Bitcoin block.
Litecoin is well below its long term uptrend on Bitfinex and failing to get back above a weekly death cross (YIKES).
Let's see if Litecoin serves as a bellwether. My guess it LTC will head at least down to the $59-66 support zone again IF it starts closing below the 200 day MA here near $81. If the $59 level breaks, I think it'll start to see some new historic lows.
Should Litecoin begins to really break down here, I expect Bitcoin to retrace back to the 200 day MA (near $22k), and ultimately break it to the downside.
What I write is my opinion and is meant for speculation and entertainment only, not financial advice.
LTC - Daily correction not finished yet i think we are in a big daily sideways move for ltc (and 99% of other crytpo)
first move i will be targeting is the move down to complete the C wave of the running flat targeeting 77$ area , then i will be looking for buy setups to get the implusion up that will break the last high at 115$ area ;
then i thin it will be tricky , the move up can continue but we have big probability to retest the low again at least 1 more time ; at 115$ / 120 $ or even 144$ this will be the area to look for sell setups to retest 40$ again ;
this is just my analysis not a financial advice
do not copy , and trade responsibly :)
Litecoin Dump Begins, Falls 20% In A Week; Time To Exit?
LTC price action shows a significant increase in selling pressure, leading to a 20% fall in the bearish market.
Breaking below the rising channel pattern, a drop below $60 could crash the LTC price to $50, an 18% drop.
Litecoin faces intense bearish pressure with top coins like Bitcoin and Ethereum down by 7.52% and 6.02% respectively.
Trending lower within a channel, LTC price action creates a snowball effect, breaking below the support trendline.
A death cross emerges, with Litecoin down by 22% in the last week and three consecutive bearish candles.
Lower price rejection from $60 helps LTC trade at $65, forming a Doji candle, signaling a relaxation period.
Technical indicators like Stochastic RSI and DMI are extremely bearish, indicating strong bearish momentum.
If buyers fail to hold off the crash rally at $60, support levels are at $50 and $40, accounting for an 18% to 33% fall.
A consolidation move above $60 may delay the downfall, but chances for a reversal are thin unless closing above $70.
LTC Outlook for the rest of the year.LTC lost its last hope of staying in a bull market. Despite being oversold, LTC sold off another 13% amid SpaceX BTC sale, Evergrande default, Federal Reserve may continue to raise rates, and SEC appealed XRP case.
From here, being very oversold on the RSI, I expect the price to at least retest the bottom of the rising channel. Next, LTC should follow the falling channel until it reaches the measured move of the symmetrical triangle around $40.
The broader crypto market is being hit from all angles with exchanges that lose users funds, SEC lawsuits, legislation to ban, and institutional dumping. We may see a relentless drop until an ETF gets approved.
Not financial advise. Entertainment purposes only!
LITECOIN/LTCNot shared but been watching this and make some private ideas,
Today im sharing it for 57$ per coin upto 130$.
not a financial advice, numbers are for reference only.
IF you think its bear market?, we already in bearmarket since january,
accumulate while the dollar is expensive at any part of the world..
Trade at your own risk.
Follow for more daily updates. free ideas and if you like it, give a boost to beat the algo on TV.
Thank you for 400+ followers.
Im just happy for gaining it, because I only need 400 followers by the end
of the year.
Thank you fellow traders.
Comment down below what is your coins .I will make an analysis for you.
Litecoin updateAfter a textbook buy the news and sell the event move on halving event, LTC is once again nearing the support around $70 mark. It will be a crucial level to watch. If markets continue correction phase and we breach this level we can expect furthermore downside, however if this level holds, a bounce above $80 to resistance around $83-$84 is inevitable.















