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the price made a breakout of the trading range and was rejected by range's support level afterward also by a trendline, which means the price will return on support and we can continue short it
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Head and Shoulders pattern and Broken horizontal do not make things good for this coin. Short in priority for now.
Currently price hold 38.2% Fib support level, so once it's broken we can open a short.
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Quick update from my last analysis on the 1h timeframe, litecoin is holding support at $53, no wick of the longterm uptrend is very bullish. Expect a test of the monthly at $58 after the weekly close tomorrow.
As always please do your own research, I am not a financial advisor.
Litecoin is in the correction, preceding the final move to the upside, in order to complete a daily impulsive move.
I assume it making a higher high around 60
LTC fell out of a significant head and shoulders, failed on the retest which coincidentally was at the daily 12ema, a very strong resistance.
Price got support from the 4H 200 ema.
My opinion is that price cannot go over the daily 12ema. Price always fell hard after being rejected by the daily 12ema. Price will continue its downward path to reach the head and...
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If the price pushes away from support level $ 53, then it will be pattern inverted Head and Shoulders and the price will rise.
If the price drops below the support level $ 53, then the decrease will continue.
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This analysis and more in our Telegram...
What's going on crypto fam,
Decided to look at the 2020 view for LTC.
Predicting a $200 litecoin by June 2020 that is nearly a
300% gain from current price levels with minimal risk.
Thanks for your support, LiquidMEX
I’m looking for the blue arrows to complete, but if the market forms a double test at the most recent retrace high, we may push lower. Coronovirus is not the driver behind these most recent Crypto moves, in my opinion.
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We caught the decline in previous idea perfectly, when price lost it's support. Currently this horizontal support turned into a strong resistance.
Considering long only if price fixes above this horizontal resistance now
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$LTC / #USD
Retested ~50$ for 1st time after breakout (following BTC) & holding (10% up from Low)
Bouncing inside Ichi cloud on the 2D
UCTS Buy signals on 1/2/3/4D
If manage to R/S flip this level (good entry) a new leg up to 63$ or higher should follow...
#LTC
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the price broke the channel and we saw a decline. now the price found a local support. in case this level lost we can continue to short it.
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wow wow wow all the complicated charts guessing based on their positions just keep this chart and wait for one of these lines to break with increase ov volume and take it from there keep it simple
The setup seems to be almost perfect, after a big drop from 145 up to almost 35, making the size of the H&S very good. This would mean, similar to ETH, that would should see a correction coming weeks, towards 50/55. The right shoulder can take all kind of shapes, so it's guessing on how it could go from now on. Even a break of last weeks high and then drop is...
Coins obviously have to retrace before taking another leg up, and Litecoin did exactly that. It couldn't break back above the monthly support at $58 so it found the next highest level at $53.
Take a look at how strong the rejection was off that $53 level, we could go up from here or continue accumulating along this lower support at $53 until the new weekly candle...
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let's follow the rules and contunue to trade it inside the range) now price retraced from local support and we can take long position with targets inside the range
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