Very similar to brothers BTC & ETH, LTC is currently inside a beautiful Equilibrium range & will see a breakout coming, highly depend on BTC's move.
The ranges to the upside are very clear in LTC case, where we have clear previous S&R zones coming up.
To the downside, we have the very interesting 60 Dollar range, where we had seen the 60% breakout in April up...
Last time we saw this pressure was august 5th. Now, LTC is headed to the trend line without the halving pressure to push it down. Which way will it go UP?DOWN? SIDEWAYS? I think we have been in a downward wedge and that is a continuation pattern. Its time we start to continue. UP :)
Litecoin is moving in a tight range. It also shows the same morning star figure as Ethereum and also the MACD and Stoch. signal upside push. The overall trend is downward, though. We would like to see the price convincingly above the resistance area to assess a trend change.
Possible H&S forming on LTCUSD pair if you don't consider the last little 'surge' as the second shoulder.
This means LTC is at a interesting price point to buy in with a tight SL to try and catch the shoulder up to the neckline around $98.
The support in case we drop down the support will be around $51 as the chart shows. Another support for this H&S claim is...
I saw that about every 200days we saw a major change in LTC top to bottom or bottom to top.
I plotted them and then projected it over the a Bullish cup and handle formation. There are huge bumps at some points mainly winter 2017. But I feel there are outside sources effecting the market at those points IE " market manipulation..". Like this year, 2019 we will...
Reasons for open position:
- Price in rising wedge
- There is a chance that the price will again return to a key level 71.2$
Guys, if you like the idea please put like button and if you have your own ideas you can share it in comments, I would like to see it.
Also, you can ask me questions which you have in comments! Please no need to write...
LTC continues to slide from its $146 peak (which I had predicted).
The "Halvening" was the previous driving force and is now relaxing.
There is a fib confluence at $64.82 - 64.88 that should bounce it.
The Green fib lines are of the Impulse up from bottom at $20.
The Purple fib lines are of the Impulse down from $146 peak.
Purple 9.618 should end the wave, with...
Litecoin just halved couple days ago, and hash rate remains 97% but mining-reward get halved.
So to retail miners and small mining companie's profit will decrease, that's why Co-founder of Litecoin said most of small LTC mining business will die and the price will drop much heading to $50.
But we are trader, looking at the chart, I believe LTC can hit $140 this...