...to Upward Pressure in mid May, 2019. You will note I got more precise with my FIB calculations to the 61.8% FIB RT (Re-Trace).
Posting chart again here just in case TV's platform scrunches up the chart.
The daily chart shows a falling wedge finding support along the long term trendline. I'd say bullish but the $100 resistance will force LTC to make a big move around June.
Invalidated if the wedge fails, which will ultimately cause a break in the long term trend. Confirmed short term at a close around $77. Daily RSI could favor a sustained upward price action....
in my opinion we will see another attemp to $100 soon. 0.618 fibo seems to hold like the blue trendline as also support at 73.645. always take a look at King BTC , the real market maker!
i'm not bullish yet, i think bears are still hungry for now but in the short term we could see some nice up movement.
have good trades to everyone
It is really hard to be inspired to a bullish argument when you look at the volume on the 4H chart. After 11 hours of trade on the daily; we are just 16.5% of the total volume of yesterday. Whoever slept in, they need to wake up and get back to their desk soon...
The 5m chart is at least trying to do something to make this exciting; we higher lows...
Litecoin has given clues to what Bitcoin will do for a long time now.
Drive 1: Breakdown from channel support/ 50%
Drive 2: Breakdown from 62%
Drive 3: Breakdown from 71%
Reversal at 79% ?
It failed to break out of the Fib channel but hasn't broken down yet completely so it's possible we could see something like this.
Two days ago I charted the coin to go down then little pull up until it meets support at pink line. If all the bars are red till the coin reaches the support, it is more likely to pull up till resistance of $100 pink line without a minor pull up and retest at $52 pink line. Looking at the 20ma and MACD, it...
I have come with new idea. This time it is with LTCUSD. I see good bull trend to be lead by LTC.
My Target is 136-148$ in next 1.5months.
Load LTC in this dip as much as you can. Enjoy.
Please thank me by liking and sharing if it helps.
Strating our analysis on the daily timeframe, we can identifiy a sharp bullish move that has just happened a few days ago. As we do not believe, that Litecoin has enough fundamental strenght to justify a bullish move like that, and just make a smaller correction before taking off higher, we think, that the next logical move should be a bigger bearish...
The 1d upward trend line has provided long-term support since the lows earlier this year, while the recent down-trend line since April's high's has acted as strong resistance. LTC tagged the 61.8 fib retracement and these trend lines converge this weekend for a potential breakout; the symmetrical triangle pattern suggests continuation of the uptrend to retest...
Let’s start with a quote from yesterday’s update:
it will be interesting to see how price reacts @ $80 over the next 24 hours.
Price essentially failed to break through the centre of the ranging channel; and with limited time to recover – demand dried up and pushed price lower. We can see that – like many other charts at the moment – volume was...