Hello dear crypto friends! ;) As my mentee Richard just posted: Litecoin is currently inside both a Daily and 4H EQ: We can perfectly see the 4H EQ as two Daily inside bars. Also we can see that the Daily pattern nicely first formed an Evening Star, and in the same move a Morning Star Reversal: A break of the 4H tightening would give the bears around 6% profit...
This is an update to my previous analysis.
The pattern is playing out perfectly... but patterns can't last forever.
Possible entry point is at $120, right below the ichimoku cloud. If it shows signs of going up again, it is possible that LTC will reach $150, then $170-$180. More or less a 40% gain.
Best way to trade this might be to wait for the stochastic RSI...
LTCUSD is facing a daily bear signal at the end of 5th wave.
The bear signal could bring it down to 116-120 by the bottom line of the channel .
Once it breaks down the channel, 90-100 is next support zone.
I am looking through the charts, and seeing that BTC is on a rampage! I also see that we are possibly going parabolic again! That being said that's for the days and weeks to come, but for many of us it is about the daily trading, the accumulation of more and more coins! Therefore I predict that we will see some major movements out of LTC with a major correction...
Golden cross? Check!
Major EMA's as support? Check!
Above cloud? Check!
True golden cross? Check!
FA catalyst! Check! Halving ;)
Positive sentiment? Check?
Bulls are in control! LTC will break out imo. However this is not the moment to go for a long position IMO.
Let it retrace to .236 or even better .368 fib level. Once LTC breaks out, other high caps will...
Hello dear crypto friends! This is crucial:
Litecoin is currently in the process of breaking the huge Weekly S&R zone, which reaches from psychological $100 to $130.
The importance of the S&R Zone can be seen holding up in April 2018 with a Morning Star reversal pattern, and also in May 2018 with a Spinning Top, before we finally broke that zone to the...
Fibonacci traders try to grasp the ''pulse'' or ''bandwidth'' of the waves in a movement.
I noticed the above just goofing around, and wanted to put it out there before I forgot about it.
Will update with more thoughts and examples of Fibs once this crash is over :)
Pretty low risk short entry anywhere in the mid 30s. Stop loss will keep you safe. If you look at the last halving LTC lost a whopping 75% in the 56 days leading up to it. We are now in that same week...55 days until the next halving. Doesn't mean the same will happen, but it should top out pretty soon. If it does break out here and get close above, 220...
Litecoin’s blockchain is set to undergo a mining reward halving in August this year, as it is programmatically designed to do so after every 840,000 blocks are mined or roughly once every four years.
The process is aimed at controlling inflation by reducing the rewards for mining on the blockchain from 25 coins to 12.5 coins and seems to have put a strong bid...
This is my 4th Idea or "Chapter" to collect evidence for my theories.
This Chapter is to observe the results of price Returning to Impulse.
I will be adding examples as ongoing "Updates" whenever I spot them.
Impulse = strong continuous force for a limited amount of time.
When there is a return to Impulse, it is a critical zone to watch.
The whole market has dropped a lot the past week, where Litecoin rallied up to the top again. The whole market dropped a bit past 2 days, while bitcoin is again moving up to the highs.
Now at first sight it looks amazing and strong and that it's about to break up. However, there is a very big difference when we look at the volume picture.
It seems like we have...
I wake up this morning and what do I see, Litecoin has EXPLODED above the resistance just as I had anticipated! BEAUTIFUL! ABSOLUTELY BEAUTIFUL! Welcome friends, to this update analysis on Litecoin! Let's get it!
Looking at the daily chart, you can see that LTC has printed a massive breakout to the upside, completely destroying the resistance of the falling pink...