What if LTCBTC is drawing a bullish rectangle?
• LTCUSD has been lagging behind
• LTCBTC forming a very strange pattern over the last few days
• LTCUSD and LTCBTC do not build slowly, they pop with extreme upside
• Lots of LTC positive news lately
• LTCUSD descending triangle to complete in the next few days
• If LTC doubled in price, it would only be 5th in...
$LTCUSD extended consolidation.
Contracting Bollinger Bands.
Should be a relatively explosive move coming up.
Direction is difficult to say.
If break up, target is $340.
If break down, target is around $250.
My guess is bullish, but it is difficult to say with LTC.
BCHBTC has fallen to meet its long term uptrend line.
We want to see the trend line hold otherwise there will be the potential for big downside.
There's a fractal on the chart, if BCH follows this pattern we will meet the uptrend line, consolidate, and then see another impulse up.
Good entry around 0.135
Edge to edge cloud trade may be active on LTCBTC.
Previously bounced on Kijun line. We have both bottom of cloud and Kijun as support.
Hopefully after the bounce, we will have another edge to edge trade bullish with price breaking out of the cloud and bullish continuation.
Monero looks like it is consolidating for its next move up on the weekly. The RSI is a little over extended still so it may take a few extra weeks of cooling down, but if it wants to make a move it still had room to do so.
Next targets look like they could be $750, $1000, and $1400.
BCHUSD has had a few pumps over the last few weeks but the descending volume and bearish RSI divergence has me nervous.
Weekly bull flag projection, ~$4000 and ~$5300.
There seem to be better options out there in terms of returns, including BTC and LTC.
I will be looking at getting out of my BCH positions.
I'm bullish LTC long-run but for very short-term trading LTC presents good opportunities when we are in a clear trend.
Right now BTCUSD is in the midst of a correction. It's my belief that this trend will continue for at least a few hours. As long as BTC is still headed down, LTC should follow / lead the way.
If we see a break of the hourly lower-high +...