Litecoin - Looking To Sell Pullbacks In The Short TermH1 - Bearish trend pattern
Currently it looks like a pullback is happening.
Until the strong resistance zone holds I expect the price to move lower further after pullbacks.
Litecoinsell
Litecoin Short Term Sell IdeaD1 - Bearish convergence
Currently it looks like a pullback is happening.
No opposite signs
H4 - Lower lows
Currently it looks like a pullback is happening.
Until the two strong resistance zones hold my short term view remains bearish here.
Litecoin Short Term Sell IdeaH4 - Bearish trend pattern.
Currently it looks like a pullback is happening.
Until the strong resistance zone holds I expect the price to move lower further after pullbacks.
Litecoin's Elliot Wave Pattern Points Lower In the Short-termTwo months and a half ago, Litecoin was hovering in the vicinity of $147 a coin. The bulls seemed unstoppable after lifting the price by over 560% in six months. Unfortunately, an invisible threat was brewing under the surface.
According to the Wave Principle, a five-wave pattern, called an impulse, indicates the direction of the larger trend. As the Daily chart shows, the Litecoin price rose in a five-wave manner between $22 and $147, suggesting the bulls are still in charge.
On the other hand, before the trend could resume, every impulse is followed by a three-wave correction in the other direction. In Litecoin's case, this should be the part of the recent decline to $74, which is unfolding as a (w)-(x)-(y) double zig-zag retracement. The wave (y) is yet to be completed, so a sell-off in wave c of (y) is expected. Wave c has the potential to move down towards the blue box to test the channel supports and 78.6 fib retracement of the impulse around $52 - $45.
The good news is that once the correction is over, the trend resumes in the direction of the impulsive sequence. If this count is correct, once the short-term corrective move is completed most likely within the blue box on the chart, Litecoin looks ready for another attempt to exceed its 2019 high at $147 area.
Thanks for reading!
Litecoin: Do or DieLTC has been moving inside an ascending channel for 7 months and now it’s testing the support.
On the 4h chart we see that LTC is being squeezed between the ascending channel support and that local declining trend line. This thing is going to explode. Which direction?
Here is something to consider:
Death cross between 50 & 200 EMAs after a tremendous rally. If this is followed by breakdown of the support, that is a very good sell setup .
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LTC/USD - VERY BEARISHTarget: 0.0110
Blue triangle indicates the current range.
Green box is buy.
Red box is sell.
Blue line indicates potential support/resistance .
Red line indicates t/p.
This is a log chart.
This chart is made using fib channels.
This is not financial advice. All charts shown on my page, including this one, are just for fun.
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