LTC-USD Market Analysis - 17 June 2018LTC has been moving inside the Descending triangle pattern since long and finally fell downwards.
The first good resistance lies in the $112-$118 zone.(10% up or down maybe).
Getting back to the current situation. The price is around $95. If the price falls back further to the upper level of the next possible support($85-70) and rebounds from there to the next possible local fibonacci level of around $108, which is rougly equal to a gain of around 20-25%.
EMA + RSI
EMA and RSI lines are nearly about to converge. So, we may have a potential BUY signal soon.
Note that nothing can be stated about the strength of the buying signal. Keep an eye on other indicators too like the Volume to know about the strength.
I have smoothed out the EMA over RSI. This is done in order to vercome choppiness and get better entry and exit points.
Just remember this always that ,
If the RSI line(White) is ABOVE EMA line(Red) = BUY
If the RSI line(White) is BELOW EMA line(Red) = SELL
WILLIAMS ALLIGATOR
The Williams alligator shows signs of further downward movement. Since, this is a lagging indicator, this sign is justified due to massive bearish trend which started on 6th May.
Also, just remember that when the order of line is :
1. GREEN > RED > BLUE = BUY
2. BLUE > RED > GREEN = SELL
MACD
The lines seem to be converging which will result in a BUY signal. Though, at this moment they are really far from each other and any kind of massive selling may push these away further.
Note that, the MACD is converging inside a symmetrical triangle but still needs more time for development.(Will focus more on this in my next update).
ADX AND DI
-DI moved above +DI on 15 May which marked the onset of Bearish movement. Currently, -DI and +DI are way too far from each other and ADX is resting at 37 value which means that the prevalent trend is strong. So, more time is needed to see any change in trend.
VOLUME INDICATOR AND VOLUME OSCILLATOR
The most important thing which i noticed on the daily graph is that, the with falling price, the volume has been falling continuously. This is obviously, in favour of BULLS. This clearly marks the loss BEARISH momentum.
In addition to this, the Volume oscillator indicator also indicates a loss of bearish momentum. The oscillator has a negative value of -14. For all those who don’t know how volume oscillator works, let me explain it to you in simple words. This indicator plots positive values above the zero line and negative values below the line. A positive value suggests there is enough market support to continue driving price activity in the direction of the current trend. A negative value suggests there is a lack of support, that prices may begin to become stagnant or reverse
Litecoin is already in a clear downrend. A positive value of volume oscillator may have suggested further downward movement. But since, the value is negative, there is a lack of support and the trend may reverse soon.
CONCLUSION:
I’ll leave it for you to decide. I am neither shorting nor longing at this moment, i am just sharing this for knowledge purposes only.
P.S: This is not an investment advice, and i am just learning. This is for my learning purpose only. Invest your capital at your own risk.
Those who wish to achieve greatness, never seek for permissions.
They follow what their heart says,
and do what their mind states!
Good luck trading.!
Peace.
Litecoinforecast
$LTC #Litecoin - BIG MOVE AHEAD - fasten your seatbeltHello Lads and Ladies,
Today we are taking a peek at LTCBTC and seeing how it is getting ready for a big move.
Just a little to the history of LTCBTC. In December we saw a humungous push to 0.019750, from there on it was on a downtrend to 0.016000 and crashed within a few days to 0.013400. After the crash it just rocketed up almost 100% to 0.025000. From that level on it has been on a pretty steady downtrend.
As LTCBTC is known for its violent crashes but also its even more violent pushes, can clearly see a strong downtrend resistance after the the very big rocketing in February to 0.025000.
There was also a second downtrend resistance that has come to and experienced a push from the 23.6% fibs to the 38.2%, back to 23.6% and up to even the 50% fibs line. This last push has confirmed the second bigger scale downtrend resistance that LTCBTC has been respecting and is now hugging.
Normally, we have a very strong support sitting at the 23.6% fibs line which is located at 0.016000. Since we should have been at an end of the big scale downtrend, we could have expected a big bounce to 38.2% and then to 50% again.
Nevertheless, we had the whole market shaking very hard, what caused LTCBTC to crash almost to the same level like it did in the beginning of February and started a humungous push.
Right now, the LTCBTC chart is still hugging the downtrend resistance. It seems like that it issuing to break it and leave it pretty soon, form where we can at least expect it to push up towards the 38.2% to 50% region. Moreover, should the whole market stay in a pretty positive vibe and experience a nice push, we might even see LTCBTC repeating its almost 100% push again.
Normally I always show more bearish scenarios but in this case I am very sure because I have been trading LTCBTC for a long time and we haven't seen a really big push now for quite some time. The downtrend is ending and the push is immanent. I am not saying that it will happen in the next few days, but I am pretty sure about it within the next few weeks.
Like and Follow me and you will find this page interesting because I am a TA expert and day trader that does daily updates and new posts about the hottest and most discussed coins.
Fell free to request TA for ANY coin you are interested in!!!
Cheers, Tomas
LTC the perfect Long! On the Daily we have a beautiful falling triangle, and a very low risk to extremely high reward potential play!
with my count I am getting to this correction being the end of our 4th wave, I am playing it safe by placing a take profit at 0.618% range at 330-340USD for 85% of my total LTC portfolio and remaining 15% to be divided between 0.786(400USD)-2.618(1000USD).
my stop is at 88USD.
Good luck all.
this is only my actual current trade and not an investing advice to anyone. trade at your own (low)risk ;)
LTCUSD’s monster descending triangle Price action between January 5, 2018 and $108.29 is captured in this analysis as a descending triangle for Litecoin (LTCUSD). The implication of this chart pattern is bearish, albeit not 100% of the time.
Litecoin (LTCUSD) currently has broken out of the is chart pattern and the downward target using a vertical projection of the width of the chart pattern means Litecoin (LTCUSD) would go back to $0 and cease to exist.
The earliest target for Litecoin (LTCUSD) to find support is placed between ~$58.20 and ~35.38 before any possible bullish momentum can be sustained.
LITECOIN / LTCUSD HAS HIT THE BOTTOM. NO WHERE TO GO BUT UP!My position now is officially long on litecoin. We have hit the june dip that should have been predicted from past years trends like the january dip we had. I believe we have hit the bottom. There are three trend lines converging to form a nice bottom and we should see a rise from here. This is my first tradingview post and it'll be fun to see how my prediciton plays out! I have been trading currencies since I was 18 in the forex market and have been in the cryptocurrency market for the past three years. I have had a succesful track record the past few years personally and I hope to help you all out as well! Lets make this money!
Did I have the ONLY spot on LTC call!? Bounce plays abound.If you have read or even looked at my past LTC posts, you will know that I have been worried about these pairs breaking down. My last Head and shoulder call was SPOT ON. For those of you following me you should either be laddering your buys accordingly or been stopped out depending on your plan. for laddering you need to look at how far this thing could potentially go down.
We know this thing is trending down, lets look at the technicals a bit to see where we are:
1. LTC has broke this long massive support line.
2. MaCD is negative.
3. RSI is in oversold terrtitory.
Look, I am not shilling anything. I post because I want people to make money and I want to make money. Bottom line. If I wanted to paint an image that these things were going to moon I would try and sell you on THAT so you would buy my service, but I don't. i call it like I see it.
On my last post I said something to the effect of "I won't be buying again at this $112 area, closer to $100. Well, we are almost here.
I am strictly laddering buys on these pairs going forward. READ UP ON HOW TO DO IT! see below. A couple things to keep in mind. i anticipate a bounce but i don't know if that will happen at $100 or maybe 90? This is where the laddering comes into play. There is a POSSIBILITY that BTC goes to 4k. IF it does that, that will put LTC at a 30% drop, or down to roughly the $70 area. Make SURE you have planned accordingly or you can potentially suffer massive loses. My first buy is just above $100. If ya'll want me to give you more specifics, gotta send me love via my twitter page or pm me. and I don't just mean follow my twitter page either. If you are also worried about missing the move, buy in with your first ladder, if you run the math on your first position, sometimes it makes sense.
Best of luck out there,
-Sherem
$LTC #Litecoin repeating history with an end of the downtrendHello lads and Ladies,
Today we are looking into Litecoin. We see very clearly an end of the long downward trend forming a very nice triangle. This would normally indicate a very soon breakout. RSI its also on a healthy rise upwards.
ANYHOW, there is a possibility that we will see a short term break down from the recent support line. We have seen this already a few times with LTCBTC that after an end of the downtrend it breaks down to the next support and just then breaks out and starts rocketing again. The break down from support after a downtrend is a very strong indicator for the next BIG MOVE on LTCBTC.
Therefore, there are two possible scenarios one that we will see a breakout right now, OR it will break the support and then have the next big move. In any case it will rise to the shown fibs lines where it might find shortly its resistance.
Considering all of the above I will put in 30% right now and divide the 70% throughout the strong buy zone.
Cheers, Tomas
LITECOIN Triple Bottom Opportunity 4H [LTC/BTC]Textbook triple bottom opportunity could occur. Trade the neckline. If break of support short.
This is NOT a buy OR a sell signal. I'm not a financial adviser and nothing I say is a fact, any losses made through these decisions do not hold me accountable and you should never invest more than you're willing to lose.
Xander~
Massive descending pattern on this LTCLTC is probably forming the most concerning pattern of them all IMO. If you notice it is similar to BTC in the sense that we have been forming these massive Lower highs. The major difference between LTC and BTC at this point is LTC is already at the bottom while BTC still has some more room to go before hitting the 6.5k low. You would think that LTC would generate a significant bounce off this $112 area. But it's not! Is it just the holiday weekend that is causing the lack of bouncing or is it just a lack of interest in LTC?
Right now we have MACD in negative territory and while the bars are moving to the upside, the lines are sloped and moving down still and RSI is just barely starting to confirm divergence... what would be a more powerful pattern reversal confirmation would be it breaking this lows and double bottoming on this RSI. Or maybe just spiking through the support where hopefully it would get scooped up and rebound quickly.
I am neutral on this one right now as i think it could break the lows. I want to see where LTC bases out as BTC finds this bottom. If BTC breaks this 7k mark, it will go to 6.5k which will drive LTC down to this 100 mark and maybe even 90.
Happy Trading,
-Sherem
Litecoin (LTCUSD) Elliott wave analysis update: 4hr tfMy previous post for Litecoin (LTCUSD) can be found here:
It was mentioned in the post that a move back upwards for Litecoin (LTCUSD) would terminate between $152.13 and $158.19 before another sell off in Litecoin (LTCUSD). Lack of recovery to the region of the horizontal green lines as mentioned in the previous post is interpreted to be a minute wave ((x)) for Litecoin (LTCUSD).
The implication of the above is that a minute wave ((y)) is currently on for Litecoin (LTCUSD) so selling should continue. Litecoin (LTCUSD) at the time of this post has broken just below Support 2 as given in the previous post (and also shown here). Any recovery from this support is expected to be weak as shown by the blue arrow on the chart and the next trajectory indicated by the red arrow.
The point of invalidation (POI) for this analysis is placed just above the high made on May 21, 2018 of ~$140.32.
LTC - Gut tells me bearish, though bulls have a chanceHead and shoulders forming on the daily chart.
RSI is levelling off to around 50, no real pressure up or down, prices are simply frozen where they are.
If the bulls hold the neck line of around 162k, I can definitely see us going to ATH at around 262k
However if the bulls don't hold the neck line, may god be with all the LTC holders out there, I'll see you at 61.5k sats.
Weekly charts are not promising in the slightest with some major bearish divergences appearing on both RSI and MACD.
Will sit this one out on the side lines to see what happens in the coming weeks/days.
Litecoin LTC 1 D Technical Analysis Market UpdateLitecoin is doing the worst of the 3 between BTC and ETH
I still have great confidence in LTC, so keep your faith strong
You wanted LTC to be below $150, well... your answers have been met
Watch for a couple things:
- Not looking too good for LTC
- Dropped below the cloud
- Testing major support @ .786 Fib
- Volume is declining
- Watch for the test of the trend line @ around $127
-- If we break this trend then $113 will be the next LTC target
$DYOR and Happy Trading
LTCUSD - More Upside In Short-Term To Follow?!Good evening Traders,
After I got stopped out at my previous trade in LTCUSD. Here is an update on the chart. Obviously, losing is a part of trading.
However, my view still remains the same. I am expecting more upside as long as it stays above 130.761.
The arrows drawn in the chart represents my view. It can go to the 50% Fibonacci retracement from the peak. Let's see.
Disclaimer : Trading is about going with the highest probability, nobody is 100% right and we need to protect ourself in case we are wrong. That is why we need to always use a stop-loss when trading. Trade with care. This my current view, and any view present is not a trading recommendation just personal view.
Litecoin (LTCUSD) bears are lurking: 4hr tf wave analysisMy previous post for Litecoin (LTCUSD) can be found here:
Price of Litecoin (LTCUSD) is currently holding just above support 1 (between ~$133.49 and ~$131.31) indicated in the previous post and also shown here. Price swing from ~ $180.18 on May 6, 2018 to ~$134.40 on May 12, 2018 is identified in this analysis as a W-X-Y (double zigzag) Elliott wave structure.
The implication of the above is that Litecoin (LTCUSD) should continue to sell off once the current correction is complete as indicated by the by the blue arrow. The current corrective move in Litecoin (LTCUSD) is assumed at the time of this post to be shaping up as a regular flat Elliott wave structure.
The target area for Litecoin before a sell off is anticipated is shown by the horizontal green lines. Price labels have been put beside each line to indicate its value. Sell off would be expected to at least break below support 2.
The point of invalidation (POI) of this analysis is ~$168.00 at which point wave C of the regular flat would have moved ~200% of wave A which is unacceptable.
LTC get your S**t together !HADOUKEN Traders...and entusiast,
I am The Real Johny Button !... hated by press and loved by the haters! Lets look at my opinion on LTC today:
The market cap has made a pull back bellow 400b after reaching a recent high over 450b. That has reflected across the entire market that i follow.
So I like these situations! This means that i can make money CHA CHING
LTC has a lower support line shown on the visual above in Pink. I am thinking it may tag this for a 3rd time, but as we have it now, the price has reach the strong fib level of 38% and could hang there for all I know...
Now the MACD has made 1 and a half down moves...I am waiting for a 3rd down move before i ever consider it bouncing up. I would be trading in at the end of the 3rd MACD wave alongside with other indicators at that point in time...but thats a while away.
So my scenarios at the moment are this: its still coming down...i want it to clearly break the current fib level, and tag the lower support.
note:
Everything moves in 3's. I apply this thought to my charts and MACD reading. I call Elliot wave 12345, 3 waves up because thats just how i see it. 3 is my magical number and has proven to be a nice way to be on a good path for me.
I also have bad grammar, and i have offended goldman sachs mail room workers in the past...to this i am sorry
Regards,
Johny Button