LTC - Bullish signals
Hey guys!
We had a massive bearish run since December 2017. Like almost every Altcoin LTC dropped into dark and lost almost 75%.
But now, we got some signs that LTC is short before a massive bullrun again, although we got a falling wedge what is usually a bearish formation.
1. We got very low RSI, forming a cup, and it's very likely that we see a trend reversal here. --> bullish
2. There is a major Support Area around 80$. We bounced there serveral times before, the support is very strong. Not likely to fall below that, and if so ... the crash will be very hard. --> bullish
3. Our falling wedge could be a symetric contracting triangle of Elliot Wave, what can be a bullish formation for continuing the last uptrend ... --> bullish
My choice:
I wait for a confirmation.
I want to see the cross between SMA 5 and 10, maybe even 20 if i am uncertain.
The falling trendline has to be broken.
My Stop Limit will be close below 80$ to reduce losses when Support Area will be broken.
Happy Trading!
!! Mention: That is my personal opinion, no trading advice. Its your money, your trade, your risk and your responsibility.
We had a massive bearish run since December 2017. Like almost every Altcoin LTC dropped into dark and lost almost 75%.
But now, we got some signs that LTC is short before a massive bullrun again, although we got a falling wedge what is usually a bearish formation.
1. We got very low RSI, forming a cup, and it's very likely that we see a trend reversal here. --> bullish
2. There is a major Support Area around 80$. We bounced there serveral times before, the support is very strong. Not likely to fall below that, and if so ... the crash will be very hard. --> bullish
3. Our falling wedge could be a symetric contracting triangle of Elliot Wave, what can be a bullish formation for continuing the last uptrend ... --> bullish
My choice:
I wait for a confirmation.
I want to see the cross between SMA 5 and 10, maybe even 20 if i am uncertain.
The falling trendline has to be broken.
My Stop Limit will be close below 80$ to reduce losses when Support Area will be broken.
Happy Trading!
!! Mention: That is my personal opinion, no trading advice. Its your money, your trade, your risk and your responsibility.
Trade active
not much views and likes here .. i think ltc really has a very good chance ...enjoy the ride guys!
Trade active
still active.be careful if we drop below 80!
use SL ...
Good Luck
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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.
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.