Litecoin - Detailed R/S chart

Updated

MACD and RSI 2H confirming consolidation/correction at this point, would probably be heading back to 0.01337 and this would be the bottom of the cup. Since the last uptrend went very quickly we can expect more waves bringing us to ever higher levels. The upper red line is a point where you definitely want to sell and upward momentum will slow down at this point, would be a good point to short as well.
The yellow line is also crucial, this key trend was broken and will act as strong resistance point, this could be a possible top and downtrend can continue from this point on! Therefor keep an eye on any significant volume confirmations.

The following possible target points are:
0.0143 (retest of cup lid)
0.0153
0.0157
0.0169 (Sell)
0.0185 (If shit would get crazy, short!)

I'm trading less at the moment hence there are not so many updates, but I would like to keep doing charts for fun. I will be limiting myself only to a few pairs that will be updates more consistently than many that get few updates. If you like this chart or want to see a specific pair, leave a comment. Thank your time and good luck with trading!

-TheTrex

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4 September important date!

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Cup seems to play out as charted

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If we break out early of the pyramid/diagonal resistance line, then that would give us extra bullish fuel.

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Litecoin will break out early and not go to the bottom of the large cup. This screenshot should give some insight.

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Price action is getting narrow now, just keep an eye on outbreak to top or dump to bottom

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Heading to 0.01555 broke out of triangle with full candle!

Trade active

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The yellow diagonal line in my interactive chart is the resistance line where it will probably top off and consolidate. Target could be 0.016895

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Bulls eyes! Target of 0.016895 reached. Congratz

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Wow tonight LTC hit the outermost red line.. This short term trend should definitely take some rest now and consolidate.

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TheTrex

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