just bouncing around fibs and gann fan lines. bullish scenario, a drooping bull flag followed by another impulse. bearish scenario, a drop to the major support zone box in green. Must look for bearish divergence at the decision zone if bearish scenario follows. break above the last gann fann line with a retest is bullish.
LTC broke over the resistance line at around $47.5 which is bullish. Now a 0.618 retracement is likely, retesting the resistance line. This retest will result in a significant hidden bullish divergence which means continuation of the upward trend. It is more probable that price action continue its upward movement then to break again under the resistance line.
Falling wedge pattern forming. There is also a bullish divergence on the last 2 dips. However price action can make one more dip and another bullish divergence on the RSI. If this 4 hour candle is rejected, then probably it is heading down. A break above $47.5 is bullish.
Rejected by resistance, rejected in the RSI, hidden bearish divergence. You figure out what's next.
heading to 166 is equivalent to 6024 mBTC in terms of LTCBTC pair. This means there will be a big dump for LTCUSD, larger than that of BTC by more than 9%. This is because the volatility for LTC is higher than that of BTC. The good news is that after the ratio tests the midterm rising channel, it might go down again if it is rejected meaning ltcusd will go...
Target roughly around 6500. Big hidden bearish divergence and breakdown from RSI rising wedge. Not sure if pennant will be retested, but stops should be above pennant.
Might break up, might break down. Classic TA calls for a break up with a measured move that will retest the mid term channel (black trend line) that price action fell out of. Elliot wave theory shows a 3 wave ABC correction with 1:1 scale that has completed. The RSI is in a rising wedge so the drop is confirmed, but the RSI does not give any clue if there is a...
the gambler's fallacy is " the mistaken belief that if something happens more frequently than normal during a given period, it will happen less frequently in the future"-wikipedia Just because price dumped so many times in the recent past, doesn't mean it will not dump again now. 60% chance it will drop one more time (a second drop less likely but plausible)....
...or die Observe the power of the gann fann.
BTC is sitting now on multiple supports. Bollinger bands are tightening like before october 25th. A Bulkowski busted falling wedge pattern might be forming. "After a downward breakout, price sometimes curls around the front of the wedge and soars upward. The busted pattern presents a profit opportunity from the long side." -Bulkowski
Price is going back down if price follows the fractal of the 2019 low. You can see there was a pump then dump to previous levels back then. A retest of the former resistance trendline in purple is in play. Then it will pump up to $101. but there is always the possibility of no retracement.
LTC has reached the final supports. Any lower and LTC will drop the years lows. Any lower and there will be no recovery or Alts season. If there is no bounce by the end of the week, write off LTC, because all bottoming and reversal structures will be broken. The only things that is positive is that it made a small bounce of the major black support line which is...
Bullish divergence on the 1H, price action in a small ending diagonal down ( a falling wedge pattern). Possible that price will bounce up from here.
The ratio is a pattern inside a pattern inside another pattern. The smallest pattern is a ring wedge (purple support and green resistance line). The green resistance line is part of rising channel that ratio broke down from. This rising wedge is within a symmetrical triangle (black support line and purple resistance line). The triangle in inside a descending...
LTC has been trading in a range that can be considered a Wyckoff accumulation zone, where whales buy LTCs from shaken and frightened plebs. The dump can just be a liquidity test to shake out the final plebs' weak hands. But to avoid sounding permanently bullish, I have drawn a bearish scenario. My prior idea,below, was right, where I grudgingly considered a...
Something very interesting happened today. It looked like the ratio was retesting the bear flag, but it pierced through it to the upper resistance line, only to fall out of the bear flag. It looks now that the ratio has been rejected by the bear flag and the ratio is resuming its descent down. If this is the case, then the recent LTCUSD dump can be inorganic and...
Possible price action drawn. Hidden bullish divergence means continuation of the trend upward.