LTC made a deep pullback after its recent upmove (see my chart below at the "related" area).
It seems to me that the correction is finished and I'm looking for a potential breakout to the upside.
Looking at the recent upmove and its correction, and using Fibo extensions my next long term target is towards $120 but thats a long way to go.
Lets first look at a ...
https://www.tradingview.com/x/R0FXgYaT/
LTC is currently on a trajectory to test $60 before a final descent into a Double Bottom. If you look at LTC's pattern from 9/4 - 9/15, we are following a very similar path. Expect LTC to retest a retracement of 61.80 before gaining enough fuel to break out of the bear downtrend (correction). Target is $38 for DB.
Good ...
After a big drop since the last week or so, Litcoin just hit a key resistance which indicates us that the trend has changed and went from bearish to bullish . Since it's beginning in the cryptoworld, litecoin has seen a beautiful rise. There are no indicator that tells us that it's rise is finished. We know that a crypto can't go up for eternity, it has to do ...
Hey Guys,
The whole market is bullish at the moment but we are still bearish with our positions as we see the market lacks enough volume to sustain at the news highs.
LTC looks for a strong downtrend after reaching its support at 57.4 and now a reversal is confirmed as RSI and MACD also indicating bearish movement.
It has a lot of resistance to fight in order to ...
Until Litecoin breaks out of this ugly channel on the daily, either to the upside or to the downside, I will not be a buyer. We are flirting with the top of the channel now. However, take a look at the RSI chart. We are hitting our heads on some major mid-level resistance in direct correlation with the top TL of my descending channel.
Watch closely folks. We ...
after a pull back last night with the correlation to the BIG 3, the bulls found bottom with 15 min oversold RSI levels.
From there the 15 min chart broke the lower high lower low pattern and started to give the bulls some momentum on the bounce.
If this 4 hour new low is broken today we will likely see the bears in full control for the day which is why it is a ...
Bulls seeing nice higher lows and higher highs on the hourly, but because we ran so high on the initial bounce, there are more resistances to work back through.
Correlation to BTC as ETH runs stronger with more volume.
Higher risk/reward play has shifted to ETH overnight.
Still watching daily higher lows and lower highs, tightening ranges.
We are currently waiting for 2 scenarios.
1. We wait for a break out of the downward trendline and buy at the retest around $58.
2. We would like to see a rejection from $58 and buy at $35.
Wait for more confirmation before deciding.
*Disclaimer :
This analysis not include personal feeling/opinion, and pure base on technical analysis
Trading foreign ...
1) We wait for move down , retest supports and if support will hold we put long
2) In case will move UP now is absolutelly important to close above the line , it will means move to rezistence area and there if bounce and close weakly below we put short time , sell .
For move UP need LTC still close above resistance levels on H4 -Daily better
