A time analysis of LTC
Updated
Wow. I don't even know how to use fib time tools. But look at how perfectly LTC is going up after my vertical blue line. It has me bullish. I feel like I said somewhere a long time ago with my time tool that crypto would be bullish mid september. And here we are.
Also note my double bottom (underlined bright green), my near term support and resistance levels. These don't matter as much as breaking above MAs. Right now we're testing the daily 50 MA, penetrated. A close above would be very bullish for me, which means a close above the 62 region. I think LTC can do it. These few signals I've illustrated here have given me quite a bullish hope. Not to mention a LARGE MATHAF&*KIN bullish divergence on MACD on daily and weekly TFs. Daily cross on MACD, the works.
Summary:
I'm learning slowly and experimenting with this fib time tool, and it seems to react at the '5' mark nicely, but take it in combination with other indications of a full reversal.
Also note my double bottom (underlined bright green), my near term support and resistance levels. These don't matter as much as breaking above MAs. Right now we're testing the daily 50 MA, penetrated. A close above would be very bullish for me, which means a close above the 62 region. I think LTC can do it. These few signals I've illustrated here have given me quite a bullish hope. Not to mention a LARGE MATHAF&*KIN bullish divergence on MACD on daily and weekly TFs. Daily cross on MACD, the works.
Summary:
I'm learning slowly and experimenting with this fib time tool, and it seems to react at the '5' mark nicely, but take it in combination with other indications of a full reversal.
Note
I forgot to mention we have been trading sideways out of the large purple falling wedge, no longer bound by it. I'm calling that accumulators and bulls are gaining control over the reigns now.
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