Taking a look at a log chart, we can see LTC could be forming a beautiful ascending triangle. Price target would be the height of the triangle which can be seen at 2. This is not trading advice. This is a speculative market. Do your own research and trade at your own risk.
The green scenario is our most bullish scenario and I am not finding this very likely as we haven't established a touch on the bottom side of the ascending triangle yet to really confirm it.
The orange scenario sees us getting rejected at the top of the ascending triangle and taking a dip maybe even into the 70s if it were harsh enough before proceeding to breakout at the top of the triangle.
The red scenario is still bullish but would let the ascending triangle playout longer and having us see $200 just before the August halving.
Goodluck
The green scenario is our most bullish scenario and I am not finding this very likely as we haven't established a touch on the bottom side of the ascending triangle yet to really confirm it.
The orange scenario sees us getting rejected at the top of the ascending triangle and taking a dip maybe even into the 70s if it were harsh enough before proceeding to breakout at the top of the triangle.
The red scenario is still bullish but would let the ascending triangle playout longer and having us see $200 just before the August halving.
Goodluck
Note
After a nice dip, currently tracking a possible inverted H&S which could see us reach the top resistance where I would suspect a bounce off $110-$112. I just don't think the time is quite here yet for us to breakout but who knows!Please give a thumbs up for updates on this post throughout its entirety, I really appreciate it :)
Note
here it comes! Updated some key areas.
Note
Right shoulder failed to come through. Thinking this should retest $90Note
Bulls are fighting extremely hard to keep $90 in check with a major bull-pin over the 200 MA.
Note
We currently sit in the middle of going to $112 and testing the top, or making our way down towards possible $60s and testing the bottom of trend. We could of course breakout sideways and consolidate. Can't wait to wakeup and see which path we're taking.
Note
You can see we are setting up in a head and shoulders pattern. There is also hidden bearish divergence which can be found in the RSI. Watch the targets to see where we will stop once the right shoulder fills in! Note
breakout attempt rejected at the top resistance! Lets see if it can breakout!
Note
We have breached and held above our previous resistance. RSI still has room to move up and would be well overbought in the 90s if we were to hit the top rsi resistance.
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.
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.