Heres a video summary :)
Litcoin is looking very very juicy indeed.
We are currently playing out an abcde style correction of the 4th wave to $67-68 region.
Using a 1:1 fib extension I predict that the 5th wave will take us to around $145.
Watch the video for...
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....
We can see that this price was in a downtrend and broke out into an uptrend. We can see further evidence of this by the rounding bottom pattern that results in another breakout through resistance. As resistance turns to support we can see profit being taken be the early bulls, which should result in a buying opportunity around that prior resistance level. We will...
Higher Low from last pump on 1D, lower low on Oscillators (solid support on RSI at this level and curving up), looks like one last pump to me before upcoming correction (it will happen). Target, once RSI reaches @ 80-85..
**Not trading advice**
As I was posting another chart for LTC's respect for the trendline as it reached the upper line of the falling wedge, this monster sell came through.
This is the 1 hour timeframe...its tough to see the 4hr looking much better. However, keep a look out for candle body closes for confirmation.
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.
Here's a low risk high reward trade for lite coin. We can see that a rounding bottom pattern has formed marking the end of the downtrend. Price just broke out of resistance and the bulls that bought at the bottom of the trend are starting to take some profit. We can expect a retracement back down to the new support level. From there we want a bullish candle to...
LTC has finally reached my support level of 70 dollars. I recommend buying here for short OR long term but be aware the downtrend is gathering steam on all cryptos and this may turn into a full fledged downtrend. I am buying for a short bounce here so my stop level is just below here so i can sleep at night. If we have a stop run selloff i will rebuy a cross back...
...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.
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...