Long

LTC back to ATH

Updated

After 4 years of accumulation period, LTC is finally breaking up the long-term resistance since May 2021 when it reached ATH.

It looks like we are finally ready to take off.

Note

Excalibur daily candle for bears.... They are all dead now... We break and we've built a great support at 73 mark. Next stop - $94

Note

bullish pennant on 1 hour

Note

Oh, no! Is that Head and Shoulders, bears ? We don't mind!

Note

According to the volume, we have enough buy power to break 94, let's gooo

Note

Liquidity taken, we are ready to smash 94

Note

Hold tight! We've just printed higher low. Bears, open the door or we go through it :)

Note

possible bull flag can take us to 115

Note

No reason to be bearish here....
- We have an actual retest of the recent breakout at the horizontal resistance - 73 (already support)
- We are back in the bullish zone which increases the possibility of a real bull flag.
- Once it breaks up the flag, we should witness an identical move as much as the size of the pole of the flag ($25) according to the technical rule of this pattern.
The top of the flag is around $88 mark, so 88 + 25 = 113 which is close enough to the next resistance at $115 mark

Note

Breaking up the flag... 115 ahead!

Note

So far, so good! Well-defended, bulls! Any candle closing with its body (not a wick) below $84 on 4 hours, will invalidate the flag.

Note

The Thor's hammer has been formed on weekly... Expect a green week ahead!

Note

We are breaking 94... The flag is playing out by the book! What a great start of the week! 115 is certain from here!

Note

Exciting times

Note

After every breakout to the upside, it's always good to see a confirmation by the price retesting the same level again, in our case 94 mark. This saves us stress in the future and it builds a perspective for continuation of the uptrend. I think this is the last chance buying LTC below $100

Note

It looks like we've flipped another resistance into support ($94).
Despite the bears' efforts to push the price down, the long wick of the green candle tells us that they failed to keep the price below 94 and every drop is considered as a great buying opportunity on the market as investors see the change in the trend

Note

Expecting an explosive fat daily candle up to 115 from here

Note

We did not have a bad close of the daily candle yesterday at all... Dropped to 90 and then managed to close around the support at 94. That means there is still buying interest and every drop is being absorbed by buyers. Also, a possible double bottom around 84 is giving us a signal for potential bullish outcome... Off course, we need to wait for the daily close to confirm that. However, I would not change my bullish view unless the daily closes below 84.

Note

We are holding pretty well so far! Keep it up!

Note

falling wedge spotted on 4 hours:

Note

84 is a well-proven support as we can see, I like the price action so far

Nevertheless, we should not underestimate the risk of invalidating the wedge by breaking down 84 and revisiting 73.

Note

nice play out of the wedge, send it

Note

So, the falling wedge was longer than I expected considering the recent long squeeze. Anyway, we are back in the bullish area between 84 and 94. Looks promising now.

Note

Deja Vu:

Note

Let go

Note

So far, so good!

Note

We are doing great, boys! The recent rumors for LTC ETF are pricing in perfectly, the volume is proving that. You know how it is, buy the rumors, sell the news!

Note

94 appears to be a strong support now, either 105 or 115 from here.

Note

Nice one! Now, it looks like we are building a higher low here and we are headed to the next target 115

Note

We are moving fast! We just need a breakout at 115 and a range above it for a while in order the uptrend to remain intact, a good stop loss here is at 101. Anything below that, will represent bearish price action.

Note

I like the reaction from the support at 94. I think that was another long squeeze and now we have enough liquidity to break 115.

Note

go go

Note

inverted head and shoulders all across the board

Note

keep it up, bulls!

Note

if 94 holds, this should be considered as a last chance buying under $100

Note

Bears could not even touch 94...

Note

101 is a strong support now, send it

Note

A choppy price action around the main support level at $94 mark is going on.
However, a possible cup and handle pattern is forming on daily which is our last chance to go to 115-130 zone where a solid selling pressure is expected to occur.
Invalidation point - $92.

Note

It's been a while... After the recent breakdown of the main support at 94, LTC has tried to recover, however we see another rejection at 84 (support before, resistance now). Considering the bearish momentum on the market right now, we can surely save more capital to buy more later on.

Note

another unsuccessful try to breach 84...

Note

Considering the massive rising wedge on BTC.D, we should expect a great alt season coming up:

Also, bears are running out of time to test 73 (leave alone breaking it) as there is high demand at 84 and bulls are defending it quite well:

Note

bull flag on hourly:

Note

it looks better now, thanks

Note

We are breaking up, boys!

Note

Long squeeze yesterday, however we are still above the flag somehow. 84 must hold:

Note

we are still looking good, 84 is behaving as it's supposed to:

Note

we are dancing around 84, sometimes we call it "stop-loss hunting" or just "accumulation", anyway, the path is clear:

Georgi_Iam

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.