LTC is moving inside the marked ascending channel - but formed a H&S on the 4 hour. A dump is very likely here, having been rejected hard by the upper trendline resistance zone and after an ascending vedge has broken downwards yesterday.
We could see a first leg to 41 - then a short bounce - followed by another leg to about 39.
A breakout to the downside when...
So looking at the DJI on the monthly chart really reveals how exponential the runup of the US economy has been over the last decades. The Dow Jones basically grew +100% since the economic crisis in 2008 - currently sitting at about 25k. But I - as many others - have been started to wonder how far the DJI can run further up - and when it is time for a recession....
Gold potentially forming a rounding top on the daily chart.
Had a double bottom as well (marked in dark green).
RSI has seen oversold territory over the last few days as well.
Is gold reversing here? It might.
If so, first target I would have an eye on is 1280.
This is no trading advice - just my 2 cents.
I wanna try to share my thoughts on LTC with you. This is going to be a look at LTC for the next few weeks or possibly months - so lets get right into it.
LTC's logarithmic chart proved itself to be a very important aspect to look at when trading LTC. Back in 2017, various pumps of LTC (first pump to 100 and 200) were much easier to predict on the...
Have a look at the 106USD - 100USD levels. If they break, we face a serious problem.
If we manage to bounce and gain some momentum to the upper side and break out of the triangle to the upper side, we may see a bullrun similar to last years spring bullrun.
After the symmetric triangle broke to the lower side, we were able to set a target at about 160 USD. My buying target is 162 USD at the 0.618 fibonacci retracement of the previous pump.
Your thoughts are appreciated in the comments...
LTCUSD has been forming a symmetric triangle (purple trendlines) over the last few days - yet, we didn't see enough momentum and enough volume to break to the upper side.
A breaking of the lower trendline would be a bloodbath though....lets hope we see further highs.
Target for a breakout to the upper side: 250
just saw that kinda tilted double bottom (red) the other day - exactly parallel to the (three times confirmed) downwards facing trendline.
Could the price movement, that I marked in green, end up in a tilted double top that is parallel to the trendline?
FTC is forming a rounding bottom on the short term charts (1h, 2h, 4h) - I think, that the handle of the cup and handle pattern will hit the purple trendline, that is active since a few days - and that FTC will head upwards after that to retest the neckline at about 0.172 USD.
If the retest is successful, FTC has the potential to moon.
LTC is a good choice for an altcoin to invest in with the intention to make some money after the BTC fork. It has a very strong community and big potential.
But most interesting is the strong support indicated by the green ellipse in the chart.
We have a long term trendline as a support - the 50 and 100 day moving average are also heading to that point - so we...
BTC has been on an amazing trend upwards this year. We entered the year with a price between 1k and 2k USD. Now, we are looking at an alltime high of more than 6000 USD - this is crazy.
BTC is ready for a pullback - markets tend to pull back after such enormous growths - and BTC is not exempt from that.
As we can see, I highlighted the old alltime highs of...