LTC:USD Ascending Triangle (Nothing is perfect.. :P)
Updated
LTC is forming an ascending triangle (not a perfect one) which, if it plays out, will confirm a trend continuation.
The white LSMA is pointing straight to the upside and indicates a trend continuation as well.
On the other hand the IDDQD line (green) turned down, so the trend might drop to the downside of the ascending triangle . That's the reason why I dont connect the lower leg of the triangle with the wimps. The bottom is about to come and even the .236 fib could be retested again.
The trend is supported by the 50 EMA .
A green buysignal (dot) flashed up already but I expect a sellsignal is about to come.
As soon as the upper side of the triangle is broken, the first target will be 350 USD.
If the trend moves down, the first supportarea would be at ~175 USD. The second: ~ 135 USD
Targets: 350 USD --> 485 USD --> 565 USD . The targets 700 USD and OOOVER 900 USD are far away, but possible in future.
The white LSMA is pointing straight to the upside and indicates a trend continuation as well.
On the other hand the IDDQD line (green) turned down, so the trend might drop to the downside of the ascending triangle . That's the reason why I dont connect the lower leg of the triangle with the wimps. The bottom is about to come and even the .236 fib could be retested again.
The trend is supported by the 50 EMA .
A green buysignal (dot) flashed up already but I expect a sellsignal is about to come.
As soon as the upper side of the triangle is broken, the first target will be 350 USD.
If the trend moves down, the first supportarea would be at ~175 USD. The second: ~ 135 USD
Targets: 350 USD --> 485 USD --> 565 USD . The targets 700 USD and OOOVER 900 USD are far away, but possible in future.
Note
s3.amazonaws.com/tradingview/snapshots/c/CpKOvuix.pngTrend: " Let's retest if the roof is safe. It is." ;P
1h TF view:
LTC is supported by 50 EMA (blue) and 200 EMA (orange).
IDDQD (green) turned up aiming for a new buy-signal (green dot)
The LSMA (white) still heading south but should turn up soon.
A second retest of the roof is possible.
The TA is still valid.
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