LTC Headed back to $400 - A Guide To Maximizing the OpportunityHello Friends! Today we're going to do analysis on one of the most underrated and oldest coins in crypto - That's right, it's Litecoin! I've had my share of ups and downs with LTC over the years (see what I did there? 😀), and recently I've questioned its relevance myself. Yet it remains a top 30 Market cap coin, with a current Market Cap of $10.33 Billion USD).
Looking at the Monthly Chart, we immediately see this tightening symmetrical triangle. If you look at the same Monthly chart for XRP Ripple, you can see the exact same tightening triangle that recently broke out to a 350% move in just a month, shocking the world. Could Litecoin be next? Let's look at the charts and see if there's other supporting data for this hypothesis.
Before we do, we cannot deny what is plain to see with your own eyes. Litecoin has just broken out of this triangle in the last week and started to make its ascent. But how high can it go? The all-time high was $413.
As we move into the Daily chart, we can see the Fibonacci Extension aligns with the move to $400. I also have drawn an ABC correction although it doesn't exactly look right. Regardles, you can get the Elliot Waves and ABC correction on this move with these coordinates. The Fib Extension will become a lot more apparent as we zoom in further.
Here's where things get REALLY exciting. Often, inexperienced crypto analysts forget to use the BTC pairing as a leading indicator. This chart shows 3 exciting things that make an upward move against Bitcoin imminent.
1. The massive downward facing wedge which coincidentally works alongside the USD pairing symmetrical triangle.
2. The 200-day Moving Average (purple line) that LTC has broken out above.
3. The increasing steady volume as LTC inches closer to the upper trendline of the wedge.
Zooming in on the LTC/BTC pairing 4-hour chart, we discover an obvious ascending triangle that has been printing itself since the low of November 13th, with the upper trendline resistance falling right on the 200-day moving average. The breakout above this line with volume was a clear buying signal, and led to a rally in the USD pairing later that day. For full transparency, I used this signal to take a position immediately, which I scaled further into as the USD pair confirmed the breakout.
Looking back at the LTC/USD pairing and zooming into the 1 hour, we notice that the November 13th BTC pairing low coincides with the break of the USD pairing, and we have a clear break out from the monthly symmetrical triangle supported by volume. We've also identified a potential channel that could be used to track the move up.
Finally, zooming back out to the Monthly Chart, we see the Fib Extensions happen to line up perfectly with every cycle top, completing at the all-time high. Can you say confluence? It's almost too perfect. This chart combined with the previous should be screaming at you by now that this is obvious.
Thanks for reading and be safe out there! This is for informational purposes only and not a suggestion or recommendation to buy or sell any asset or otherwise. You are responsible for your own decisions no matter where you get information. Never invest if you can't afford it and consider all investing gambling.
- Shadowfigure
Alltimehigh
Ethereum - Finally Starting The Parabolic Rally!Ethereum ( BITSTAMP:ETHUSD ) is is starting to catch up to Bitcoin:
Click chart above to see the detailed analysis👆🏻
After Bitcoin finally managed to break above all of the previous all time highs, it is now Ethereum's turn to catch up. Market structure is still obviously bullish and with a pump of +35% over the past week, momentum is starting to pick up and bulls are stepping into the market.
Levels to watch: $4.000, $15.000
Keep your long term vision,
Philip (BasicTrading)
SNPS Breakout Potential to the UpsideNASDAQ:SNPS has been range-bound since 2023 and is finally showing technical patterns that reveal Dark Pool hidden accumulation, pro trader nudges, and the potential for HFTs to gap and run the stock upward.
This stock is setting up to challenge the all-time high. Often in the current Moderately Up-trending Market Condition, HFTs will gap the stock over the resistance level.
So keep the stock on a watchlist to look for pro trader nudges or resting-day candles that indicate the pros are attempting to trigger HFTs to gap the stock up. IF the HFTs gap the stock, then pro traders will take profits immediately, selling into the foray of retail traders chasing the gap. The goal is to enter before a potential gap. The stock may not gap. However, the pattern is indicative of more HFT activity.
SWING IDEA - CAPLIN POINT LABORATORIESCaplin Point Laboratories , a leading pharmaceutical company known for its strong presence in regulated and emerging markets, presents a promising swing trade opportunity based on the following technical factors:
Reasons are listed below :
2100 Resistance Break : The stock has decisively broken the 2100 resistance level, signaling strength and potential for further upside.
Head and Shoulder Pattern Breakout : A classic bullish reversal pattern, indicating a continuation of the uptrend.
Bullish Marubozu Candle : A strong bullish candle on the daily timeframe showcases significant buying interest and momentum.
Trading Above Key Moving Averages : The price is comfortably above the 50 and 200 EMAs on the daily timeframe, reinforcing the bullish sentiment.
Target - 2390 // 2600
Stoploss - daily close below 2060
DISCLAIMER -
Decisions to buy, sell, hold or trade in securities, commodities and other investments involve risk and are best made based on the advice of qualified financial professionals. Any trading in securities or other investments involves a risk of substantial losses. The practice of "Day Trading" involves particularly high risks and can cause you to lose substantial sums of money. Before undertaking any trading program, you should consult a qualified financial professional. Please consider carefully whether such trading is suitable for you in light of your financial condition and ability to bear financial risks. Under no circumstances shall we be liable for any loss or damage you or anyone else incurs as a result of any trading or investment activity that you or anyone else engages in based on any information or material you receive through TradingView or our services.
@visionary.growth.insights
SWING IDEA - HDFC LIFE INSURANCE HDFC Life Insurance , one of India's leading life insurance companies, is showing strong technical signals for a swing trade.
Reasons are listed below :
750 Zone Breakout : This level has been tested several times and the stock is now poised to break out, indicating potential upward momentum.
Breaking Consolidation Zone of 3.5+ Years : The stock is emerging from a prolonged consolidation phase, which could signal the start of a new bullish trend.
Highest 52-Week Close : It recently achieved its highest close in the past 52 weeks, reflecting strong market sentiment.
Trading Near All-Time High : The price is approaching its all-time high, showing that the bullish momentum is intact.
Trading Above Weekly 50 and 200 EMA : This reinforces the positive outlook, with the stock maintaining its position above key moving averages.
Target - 870 // 990
Stoploss - weekly close below 660
DISCLAIMER -
Decisions to buy, sell, hold or trade in securities, commodities and other investments involve risk and are best made based on the advice of qualified financial professionals. Any trading in securities or other investments involves a risk of substantial losses. The practice of "Day Trading" involves particularly high risks and can cause you to lose substantial sums of money. Before undertaking any trading program, you should consult a qualified financial professional. Please consider carefully whether such trading is suitable for you in light of your financial condition and ability to bear financial risks. Under no circumstances shall we be liable for any loss or damage you or anyone else incurs as a result of any trading or investment activity that you or anyone else engages in based on any information or material you receive through TradingView or our services.
@visionary.growth.insights
ALTCOINS | FRACTAL | Can ARB DOUBLE ?ARB has only recently established a clear bottom pattern, and unlike other alts it hasn't quite yet seen the usual parabolic increases.
Previously, ARB established a similar W-Bottom patter, which led to a new ATH. Is it possible that after forming a similar patter, ARB could make a new ATH again?
Don't miss yesterdays update on BTC and ALTSEASON , and why we can still see rallies across the alt market:
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BINANCE:ARBUSDT
100k might start wave 4 of 5Hi all, what an exiting time to be part of crypto. BTC is putting in all time new highs almost daily at the moment, it's incredible to watch. This chart shows that hitting 100k might end the gorgeous wave 3 of 5 we've been having of late and plunge is into a wave 4. Not to worry, if this happens this will be a lovely buy dip as wave 5 will be owed at this point. Don't forget, this 1-5 impulse is only wave ONE of FIVE of a higher degree of trend so there's plenty more up to go as yet. Follow more more.
Ethereum - Buy It Now Or Never!Ethereum ( BITSTAMP:ETHUSD ) will offer a final retest:
Click chart above to see the detailed analysis👆🏻
Ethereum is about to retest a perfect confluence of support from which a bullish reversal is almost certain. Following the overall bullish trend, Ethereum should retest the previous all time high next and then maybe even follow Bitcoin and create new all time highs going into 2025.
Levels to watch: $2.000
Keep your long term vision,
Philip (BasicTrading)
CYCLE 4 | TA - First Log Measured Move HitQuick Update: Cycle 4 BTC price action has hit our first measured move (log scale) which coincides with the 1.272 Fib Extension using the prior cycles technical top and cycle bottom.
This was our first point of interest as BTC approaches our Early Sell Zone region....
BTC | SHORT TERM | ATH OutlookBitcoin is in the process of making new ATH's and this process is called "price discovery mode".
This basically means that we have no indication of possible resistance or support zones. However, there is one method I like to use for price discovery mode - Fibonacci.
This could hold some key information as to where the price of BTC may possible see some rejection, and where it could bounce from.
If you're keen to see the journey, I made an update on my ENTIRE BTC prediction-roadmap. Find it here:
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BINANCE:BTCUSDT
Updated Ascending Triangle!I wanted to update everyone following the TA on GME. It looks like yesterday's sideways movement has widened the Ascending Triangle on the 1-hour chart, which was expected due to the Cup & Handle formation on the daily chart. This sideways movement has now set up the handle on the daily chart and makes for a much larger breakout than anticipated.
Here's the latest development: Along with the widening of the hourly Ascending Triangle, the 4-hour pennant breakout has now formed a second small pennant, which also makes up the handle for the Cup on the daily chart. Additionally, GME is still in the middle of a Bull Flag breakout on the Weekly chart, on top of a Golden Cross!
Here's the current breakdown:
1-hour chart: Ascending Triangle
4-hour chart: (New)Bull Pennant
Daily chart: Cup & Handle
Weekly chart: Bull Flag + Golden Cross
I've never seen a setup quite like this before. The breakout across all timeframes is going to be something special for sure. I'm just counting down the days until these patterns breakout across all timeframes.
For those following this for the first time, here's some exciting historical context: The last time GME had a Golden Cross on the weekly chart was back in January 2021, and GME saw a 12,000% move in just 183 trading days.
Don't blink—we are right around the corner from history in the making! ✌️
Bitcoin - The Beginning Of The Next Phase!Bitcoin ( BITSTAMP:BTCUSD ) is finally breaking all resistance:
Click chart above to see the detailed analysis👆🏻
Patience once again paid off after Bitcoin has been retesting the previous all time high for about 250 days, not really being able to create a sustainable breakout. But now, after all this waiting, things are happening pretty quickly and Bitcoin is on its way to the magical $100.000 level.
Levels to watch: $70.000, $100.000, $300.000
Keep your long term vision,
Philip (BasicTrading)
The Power of HODLINGMANTRA ( NASDAQ:OM ) has been making waves in the crypto market, not just for its price surge but for the incredible profit booked by a savvy trader. This feat has drawn the attention of investors worldwide. A reported $6 million profit from trading NASDAQ:OM has sparked interest and speculation about the coin's future, as well as its potential to deliver significant returns. Let's explore both the technical and fundamental aspects driving this market activity.
The Million-Dollar Trade
A crypto trader, identified by the wallet address "0xdc2," achieved a staggering return on investment (ROI) of 161X within approximately 10 months. The trader bought OM tokens at an average price of $0.026 and recently sold 600,000 tokens on Binance for a profit of $2.49 million, highlighting their total profit of $6.28 million.
This trade underscores the potential of holding onto a coin for strategic periods and taking advantage of market conditions. However, it also raises concerns about sell pressure in the wake of significant dumps.
Market Confidence Despite Sell-Off
Despite the dump, NASDAQ:OM maintained upward momentum, reflecting strong market confidence. A 26.58% price increase over 24 hours saw the token trading at $4.15, with trading volume surging 33% to $771.50 million.
Altcoin Market Sentiment
The overall positive sentiment in the altcoin market, with the crypto market cap breaching the $3 trillion mark, has helped bolster NASDAQ:OM 's price.
Futures Open Interest Growth
MANTRA Futures Open Interest surged by 53%, indicating increased investor activity and hinting at further potential price gains. This is a critical indicator of the token's growing appeal among traders.
Technical Analysis
NASDAQ:OM reached a 24-hour high of $4.47 before slightly retracing to $4.15, marking a consolidation phase after its sharp rise. The Relative Strength Index (RSI) stands at 90, indicating overbought conditions. While this suggests the potential for a short-term correction, it also reflects heightened buying pressure.
The large-scale token dump may trigger sell-offs by smaller investors, potentially leading to a short-term dip. However, the broader market sentiment and rising Futures Open Interest could mitigate this impact.
A Lesson for Traders
The $6M profit story serves as both inspiration and caution for traders. Strategic holding and avoiding FOMO (Fear of Missing Out) can lead to substantial returns. It reflects on a missed opportunity, when i sold sold a memecoin at a $3M market cap, only to watch it climb to $300M later.
This highlights the importance of conducting thorough research and believing in your investments while being mindful of market conditions.
Conclusion
MANTRA ( NASDAQ:OM ) continues to capture the attention of traders and investors alike with its significant price movements and market activity. The coin's ability to hold steady after a massive sell-off and its impressive Futures Open Interest growth hint at its strong potential in the crypto space.
While short-term fluctuations are expected, NASDAQ:OM 's broader market confidence and fundamentals position it as an asset worth watching. For savvy traders, the mantra is clear: patience, research, and timing are key to unlocking the full potential of crypto investments.
15 min Pennant has now transitioned into an Ascending Triangle! Hey everyone! Just wanted to give you an exciting update for those tracking the Bull Pennant on the 15-minute chart. As of today, it looks like the Pennant has transitioned into an absolute textbook Ascending Triangle!
Here's the breakdown of what we have across all timeframes as of today,
15-minute chart: Ascending Triangle, 4-hour chart: Bull Pennant, Daily chart: Cup & Handle, Weekly chart: Golden Cross
Bullish patterns are lighting up across all timeframes, perfectly aligning with the recent surge in institutional buying. Given all this, I've never been more bullish on GME than I am right now. We are on the brink of making history!
Xrp - This Triangle Wil Double Your Money!Xrp ( BITSTAMP:XRPUSD ) is retesting a major confluence of support:
Click chart above to see the detailed analysis👆🏻
For a couple of years now, Xrp has been trading in a bullish symmetrical triangle pattern. As we are speaking, Xrp is retesting the lower support trendline and also a horizontal support level. It is quite likely, that we will eventually see a breakout above both triangle patterns on Xrp.
Levels to watch: $0.5, $0.6, $1.0
Keep your long term vision,
Philip (BasicTrading)
Apple - A Correction Is Actually Inevitable!Apple ( NASDAQ:AAPL ) is preparing for a minor cycle correction:
Click chart above to see the detailed analysis👆🏻
After creating five consecutive bullish breaks and retests of the previous all time high, it seems like Apple is one of these stocks which is perfectly following technical analysis. Considering that and the current rising channel pattern, it is quite likely that we will now see a short term correction.
Levels to watch: $190, $240
Keep your long term vision,
Philip (BasicTrading)
SMA Golden Ratio | CYCLE 4 ATH UpdateIn accordance with historical behavior, BTCs ATH each cycle has corresponded with the next SMA line down (following a multiplication factor of the Fibonacci sequence). As observed in CYCLE 3, BTC tag the BLUE line putting in the Technical High of this cycle meaning CYCLE 4 should tag the Yellow line if History is to repeat. The Second and ATH top of CYCLE 3 tag two lines down hitting the gray line.
We can see BTC has already tag the Yellow line when BTC tage ~73K USD. Looking at CYCLE 3, BTC played with the BLUE line multiple times before settling with the top. Considering this in CYCLE 4 BTC may make another attempt at intercepting the Yellow line again depending no how parabolic BTC will be over the AUS summer period will land the price in the zones discussed in the below post.
BTC in CYCLE 4 may also contact the gray line and in this scenario most tops out around the 100K region December 2024 / January 2025.
Netflix - This Is A 100% Probability Setup!Netflix ( NASDAQ:NFLX ) will continue its parabolic rally:
Click chart above to see the detailed analysis👆🏻
With this monthly candle, Netflix finally broke above the previous all time high and it about to continue the reversal triangle pattern cycle. We saw the same breakout back in 2013, when Netflix broke above the all time high and then started an even stronger rally of about +50%.
Levels to watch: $750, $1.000
Keep your long term vision,
Philip (BasicTrading)
Hey SPYLOVERS ! Enjoy the Bull Ride !!!! Election Week and Interest Rate Cuts Did Not Disappoint Us at All
The truth is, it was a very difficult week to predict price movements. However, out of the two possible scenarios I shared last week, Scenario #1 was the winner, and it was the one I had the most confidence in!
At this moment, the price is in "no man's land," meaning there is no historical price data on the chart where we can find a level for the price to hold or replicate its movement. In this case, I believe that, from here on, the price will move based on upcoming economic news or as we approach the date when President-elect Donald Trump will officially become the President of the United States (POTUS).
Let's enjoy this bull run that is happening—these are important times for the country, and we need to take advantage of those swings!
Best regards, and thank you for supporting my analysis. See you next week!