Litecoin's Road Towards the Halving - LTCBTC Update
Updated
LTCBTC - Litecoin Halving Revised Chart - Top Reached at $60-64 Time for a Retrace?
Hi all, before we get started, like by hitting the button on the right and follow us to show us appreciation for the work and to receive further updates on Litecoin throughout the road towards the halving!
------
Since our last update, Litecoin broke the bearish H&S we had drawn and went for a 2nd leg up which hit the resistance at 0.0158-0.0161. At this moment, there are two possibilities:
Bulls (in green): we either go for a 3rd and final leg and hit the top resistance at 0.0176-0.0190 which would mean another leg on LTCUSD that would go deep through $64 or:
Bears (in red): we stop and drop back down to retest the 0.01340-0.0117 support of the ascending triangle.
Either way, since we were caught by surprise with this early start of the Litecoin rally towards the August 2019 halving, I now recommend to have a longterm cold storage of Litecoin being held separate from your daily trading stash.
Buy/Support:
0.00765-0.00691
0.00862-0.00840
0.00120-0.00117 - Ideal fully buy back if hit/add to position
0.00134-0.00125 - Buy back if LTC does not go lower
Sell/Resistances:
0.0158-0.0161
0.0176-0.0190 - Sell 25%
0.0277-0.0280 - Sell 50% - Potential target of the August 2019 Halving Rally / Blue Fractal
0.0385-0.0400 - Sell 50% - Potential target of the August 2019 Halving Rally / Blue Fractal
Stoploss: 0.01080 or at anytime the bull neckline is broken
Hi all, before we get started, like by hitting the button on the right and follow us to show us appreciation for the work and to receive further updates on Litecoin throughout the road towards the halving!
------
Since our last update, Litecoin broke the bearish H&S we had drawn and went for a 2nd leg up which hit the resistance at 0.0158-0.0161. At this moment, there are two possibilities:
Bulls (in green): we either go for a 3rd and final leg and hit the top resistance at 0.0176-0.0190 which would mean another leg on LTCUSD that would go deep through $64 or:
Bears (in red): we stop and drop back down to retest the 0.01340-0.0117 support of the ascending triangle.
Either way, since we were caught by surprise with this early start of the Litecoin rally towards the August 2019 halving, I now recommend to have a longterm cold storage of Litecoin being held separate from your daily trading stash.
Buy/Support:
0.00765-0.00691
0.00862-0.00840
0.00120-0.00117 - Ideal fully buy back if hit/add to position
0.00134-0.00125 - Buy back if LTC does not go lower
Sell/Resistances:
0.0158-0.0161
0.0176-0.0190 - Sell 25%
0.0277-0.0280 - Sell 50% - Potential target of the August 2019 Halving Rally / Blue Fractal
0.0385-0.0400 - Sell 50% - Potential target of the August 2019 Halving Rally / Blue Fractal
Stoploss: 0.01080 or at anytime the bull neckline is broken
Trade active
Note
That neckline at 0.0137-0.0135 will be retested. Besides, we are still in sideways. Keep holding!Note
Not much happening on this pair other than being in sideways in a bull parallel channel and in a short-term ascending triangle. Momentum is bullish overall. The sideways might last till April 14 before we see a move.
Note
Note
Top of the resistance hit at 0.0176-0.0190. Sell 25%. If you wish to hold for higher at 0.0277-0.0280 before selling you can.Note
bingo is my namo? both sell target and rebuy target hit!0.00134-0.00120 - Ideal fully buy back if hit/add to position - HIT
Stoploss: Can be placed at 0.01120 for those who wish!
Happy trading
Note
Buy target hit at 0.00134-0.00120. Looking good and accurate! Just keep holding then we start to rally for the LTC halving by the end of May! Good job all.Note
On track guys! on track... keep holding. Litecoin should even start acting as a hedge against the current short-term Bitcoin and Crypto Market downtrendNote
We have reached the resistance here at 0.0171-0.0180. Anything above that is typically a sell for now as I see the need of a pullback to this range 0.0161-0.0151 before further upsideNote
Anything within that resistance is a sell*Note
guys we must switch to LTCUSD because Bitcoin is just none stop surging and making ALTSBTC pairs unchartable.See the latest LTCUSD idea here. Like and follow. Once Bitcoin stabilizes a bit I will post the potential area to sell LTCBTC. At the moment it looks like at 0.0170
Trade closed: stop reached
Very bearish action so far on LTCBTC and we even broke the 61.8% Fib golden ration in the past few hours. This looks done until mid-july or until Bitcoin stops surges and crashes from $13,400-14,400 down anywhere to $10,000-7,600 before recovering. Only then ALTS and LTCBTC can surge again.Note
*I meant we broke the 50% Fib and heading towards the 61.8% Fib ratio now. More details provided to members on this, but anyways the point is clear in the chart above! Happy trading.
Join my Crypto trading signals and community:
🤝 Free Community on Discord: discord.gg/hgHtyrZnKg
🔗 X: twitter.com/BitcoinGuruHQ
📽 YouTube: youtube.com/channel/UCLefQPP8cAuvyIZD0t0gtbg
🤝 Free Community on Discord: discord.gg/hgHtyrZnKg
🔗 X: twitter.com/BitcoinGuruHQ
📽 YouTube: youtube.com/channel/UCLefQPP8cAuvyIZD0t0gtbg
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.