SORRY but i can't see anything bullish for LTC short term.
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If some ALTS shows a more neutral or even bullish signal. I can't see anything bullish for LTC yet.
The ABCDE triangle could hold if BTC resume uptrend in the coming weeks, if it can't LTC will go for lowers lows and huge new loss.
For the moment major downtrend (red line) is intact, we are reject by the deathcross (50/200MA) - and that's the heaviest bearish scenario possible for a death-cross -, MACD is still bearish.
You definitely need to wait a bullish signal to take any position on this coin. Bears are still in full of control of LTC market.
The ABCDE triangle could hold if BTC resume uptrend in the coming weeks, if it can't LTC will go for lowers lows and huge new loss.
For the moment major downtrend (red line) is intact, we are reject by the deathcross (50/200MA) - and that's the heaviest bearish scenario possible for a death-cross -, MACD is still bearish.
You definitely need to wait a bullish signal to take any position on this coin. Bears are still in full of control of LTC market.
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Let see if we can have the confirmation of a breakout.Note
Well one more perfect view i guess. Not here to be pretentious but i'm amazed how market is technical. As i said LTC was one of the weaker coin in this market for now (just speaking about TA, not tech, i love LTC as i love BTC) and look LTC have already almost bottom. I hope you all are safe and short traders avec made monneeyey with me hehe.
Cheeers
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How accurate is this chart ?s3.amazonaws.com/tradingview/snapshots/c/clwkYnj5.png
Life support is break. Bulls it's now or never.
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I let you enjoy the show. Anyway i'll be the first to buy LTC at the good price, i truly believe in it for long term. But the good price is in my opinion well below the actual one.Note
How accurate is this ? Then you know what is coming.Note
It's look like the first support which was the target of my arrow is doing his job. LTC is trying to form a bottom to retest his major resistance around 110$.Note
LTC failed to establish a bottom and instead make this attempt a bear flag : s3.amazonaws.com/tradingview/snapshots/r/rdh7b0Ds.png If LTC can't sustain his price above 62$ the most likely target is at best 35$.
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You can see on the chart how the precedent support zone (69$) have became a resistance and perfectly rejected the price to new low.Trade closed: target reached
I HAVE TOOK MY SHORTS PROFITS. Yes guys WHAT A TRADE. You can see some days ago the price of LTC just exactly touch one of my biggest support identify months ago during a beartrap on BTC. You can play the watch button on the list and the precision of my target. Incredible right?
I always said you touch the bottom line is not enough to be sure the support is holding it but you need to be able to find a pattern of support just over it. And that's what i'm looking for : s3.amazonaws.com/tradingview/snapshots/n/nSiyDeBD.png
And that's it, i see an opportunity ! On the daily chart you can see a beautifull double bottom forming, with a nice daily divergence on the RSI. For the first time we broke the fib 34 WMA in daily. To be less greedy you should wait the breakout of the 70$ area who should imply a release of the double bottom pattern BUT with the MONSTER profits i made on this LTC short (something like +70%) i can't put some money on it. YOU READ IT RIGHT I TURNED BULLISH for Short to Middle term until we touch 110$ (which not imply the end of the bear market). If BTC breakdown 6400$ then i should probably active my stop loss.
PLEASE SHARE this perfect LTC TRADE everywhere, like it to show me your support. Don't forget i take my personal time to make it for free. I will update BTC if i have enough support.
Remember i'm NOT a financial advisor, you trade at your own risk and i'm doing it only for my personal trading and entertainment.
Cheers my friends.
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You are scary for LTC ? You can... We are at the point we have waiting for since months. BTC is near the end of his triangle and LTC compression is insane : s3.amazonaws.com/tradingview/snapshots/a/As8pAzZ3.png
Yeah on this picture you can see we are facing monster resistance. But guys just to give you some hope :
s3.amazonaws.com/tradingview/snapshots/c/ccEt4zrT.png
My first target remain 110$ as long as we can stay over 54$. However a fall under it would imply the confirmation of the breakdown of the triangle, and that would be sick. I'm some experimented trader and with the money i made the last 6 months i can take pretty much allrisks. I should be crazy to don't play this rebound as i told you in last update. But i know when cut my loss so guys please PLAY IT SAFE.
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I guess i'm not the only one who tried this trade aha : s3.amazonaws.com/tradingview/snapshots/b/bM6oXSeD.png Beautiful daily breakout on LTC/BTC chart.
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If LTC have remained bullish we should see some decent bounce in the next 48H to achieve the inverse H&S.Note
Decision times near s3.amazonaws.com/tradingview/snapshots/o/OCqYMIbS.png
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