LTCUSD Medium Term AnalysisLTCUSD looks to be in an ascending channel and can be seen by white trend lines.
from this we can takeaway that it is still holding uptrend.
Bottom trend line resistance has been tested over 6 times and is STRONG.
Breakdown below this is a big red flag, I recommend setting stop loss a little under bottom channel trend line.
It could potentially head to $40 hard support, which is currently the safest accumulation zone.
Median price action is charted and can be seen by looking at yellow arrows.
This helps us see relatively healthy price action and trend pattern.
We can see a symmetrical triangle from bottom trend line and top red trend line.
This is a very famous continuation pattern. On convergence of the triangle apex, symmetrical triangle will typically break out in the direction of the prior trend (up).
Note: a break in the opposite direction of previous trend is a STRONG signal of formation of a new trend (e.g. downward movement).
If you are trading symmetrical triangle, I recommend buying slightly after breakout for bullish confirmation.
If you are in long term position, I recommend analyzing how this scenario can be used to ones benefit.
For example, position could be sold slightly after symmetrical triangle goes down (if it decides to) and can be reentered at hard support / accumulation zone (low $40s)
Others:
- we notice small green volume spikes at resistance levels, showing bulls are attempting to keep price above a certain price, possibly by setting large buy orders at bottom of resistance (52-54 right now)
- RSI shows oversold over 90% of the time LTC price is at bottom of channel (safe buy zone)
- RSI shows overbought when LTC is at top of channel (sell zone / take profit zone)
- MACD acts similar to RSI but seems less responsive in this scenario.
What I’m doing:
- accumulating medium bags at $40-45
- watching symmetric triangle closely. if breaks down, will sell position at small loss and re-enter at accumulation zone and hold. If breaks upward, will buy in at breakout confirmation.
Donations:
LTC: LQdNvC29EzF9LRkEpegQ7tab5svzaSdKCf
BTC: 1HbAHkawHsP9shHY9Xb9htDqjSFogK5x4y
ETH: 0x7F5CF2EA6b1d4C4A26d0943f5c35e6d55805cD5e
Litecoin / Bitcoin
LTC Bullish Hourly & Daily Massive Bullish OBV divergence (clearer on Hourly)
MACD is pinched and primed for a move upwards (clearer on Daily)
RSI has plenty of room to make a run (similar on both TFs)
Stoch RSI oversold on Hourly, but not super worrisome on Daily
This week, OBV bull div seals the deal.
LONG
Also, something about Charlie coming back feels fortuitous.
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Poloniex LTC/BTC
LTC - A Never Ending Love StoryWe all want to see LTC bounce and go up to the moon... but why must it break our heart so many times along the way?
This most recent crushing strike has knocked LTC completely out of short term support and back into long term levels. Right now it has caught at the fibonacci - but this is not a stable support and can easily give way to another bad day of trading.
Especially following the cash inflow of legacy coins like ETH and DASH - LTC is next right??
Long Term buy.... Short term dice...
We should see an LTC recoveryBased on the letter by the owner of ltc1btc
medium.com
He supports segwit, with larger blocks in BTC. LTC is just paying the price for BTC politics. We should have segwit soon.
Litecoin - Lightning Coin possible reversal :)Hi All!
This is a trade I feel very confident about.
Entry: 0.00425
1st Target: 0.00460
2nd Target: wait for next idea -> long-term uptrend very probable.
Stop-loss: 0.004
Litecoin has a huge future ahead. Primarily because LTC will get SegWit, Bitcoin never will.
LTC will benefit from this, some of bitcoin core developers will move to LTC development and LTC price will soar because of this.
Bitcoin might implement Parallel Validation to handle the quadratic sighash verification issue instead of SegWit (it is a more elegant solution, and minimal structure change).
SegWit is great coding, but it is not Bitcoin. Litecoin will get its benefits instead.
FA:
LTC has a very good chance of getting Segwit and Lightning Network. Signalling starts in a week.
We all love Charlie Lee. Ok, forgive me for voicing other people opinion: Crypto loves Charlie Lee! :)
China manipulators algo bots are weakening ! We can expect easier and stronger trend following.
TA:
In the chart. + Cloud is red, but for some time already and price crossing TK in bullish way with confirmations on RSI and KDJ. Looks like reversal here is very probable.
Jump onboard, Goblin!
Happy trading! ;)
P.S. PM me for Goblin Trading.
LTC & BTC Multi-Idea I'm not convinced that BTCUSD has finished shaking everyone out before it continues trend, it may not dip so low but I think it will dip below 540. Same goes for LTCUSD but 3.335 would be a hard stop for the litecoin.
With LTCUSD retaining its value and BTCUSD losing more value, LTCBTC pair will likely return to mean approximately the same price it was before BTCUSD rallied.
There is Bullish Divergence on LTCBTC and OBVs for all 3 correlate with predicted price action. BTCUSD and LTCUSD are still long term bullish, there's no indication as of yet that they aren't.