lITECOIN/USDT LTC/USDT (Possible ABCD pattern and wave 2)
Lite coin been oversold looking at the buyer zone market may form ABCD pattern along with the wave 5 elite wave formation.
*Note my previous LTC/BTC chart.
As Bitcoin price rises, Litecoin price will/should also rise in USD, but not so much in its BTC value in comparison.
LiteCoin will need to break through these resistance areas, for it to show us where it will be headed.
for now goin shorts but that nice buin candle and
blue demand buy
red supply sell
i will build my ltc position all down (that buin candle) and specialy at blue demand
Litecoin went from 17 USD to 38 USD and corrected from there, we see it bounces at the 24.5 USD support line, but the bounce after crash wasn't that strong. It didn't retrace fully back to 32 USD thus bulls are less strong and something is holding people back. For now we see the trend channel closing in, seen as the blue curves. The gann fann (yellow) indicates...
looks like a Bat formed. It appears there is heavy support and indicates likely resistance.
Be warned, this may break right away on the news of a potential BTC scaling agreement www.cryptocoinsnews.com
They could just be trying to delay the implementation though and delay segwit another year or force a UASF. Buyer beware.
Shooting star on weekly chart...
a RED shooting star at that...
Stochastic show overbought,
MACD convergence...
Any takers?
Accroding to the rumor mill Segwit activation was a success, at the expense of fraud allegations.
www.coindesk.com
themerkle.com
