arnoldzak

arnoldzak

LTC tried breaking through the declining line several times but always retraced again. Price bounced twice at two Fibonacci lines. Also 200 EMA is showing no sign of a trend change. Overall little volume in the past week. MACD also pretty bearish at the moment. Continuously lower highs throughout the week. Buying not recommended since it will likely go down...

arnoldzak

Price movement and fibonacci retracement could indicate three possible scenarios if the price breaks the sideway trend with two in favor of descending price and one in ascending price. It is hard to predict with certainty which outbreak will occur so as of right now I'd recommend to wait for entering and see what the next breakout will look like

arnoldzak

LTC/EUR tested the blue resistance line at 190.60 twice already and might test it again. If it doesn't break the line there will be another correction and retesting again. If it breaks it will definitely keep rising.

arnoldzak

If the price keeps following (not breaking the upper line) the trend channel it will continue downwards. Low buy momentum and about to be overbought. If it bounces you should definitely sell if you're holding LTC short-term. Too little evidence to recommend going short.

arnoldzak

LTC/EUR was testing the upper resistance line in a general up trend. If the price breaks the line I expect the price to jump and continue in a slight up trend.

arnoldzak

If the LTC/EUR price doesn't fall below lower trend line, I suspect that the price will follow the same pattern to a solid mid-term up trend.

arnoldzak

Right now, in the 15min chart, LTC (Coinbase) is nicely following that trend channel. Good entrypoints for mid-term holding when price approaches lower line.