[SHORT & LONG Target] LTC/USD Short for a minimal profit with a big risk. Waiting for Long with a small risk with high return.
Personal Interpretation
Trade On Your Own Risk :)
Litecoinshort
LTC BOOM: How to MAXIMIZE PROFITIf you would like to be up to speed on all the indicators not mentioned please see my previous post from June 4th, 2019 (linked below).
Possibilities
It appears that LTC has developed a sturdy support line at 0.014 BTC (white line), previously a resistance line. THIS IS GREAT NEWS. LTC will likely go towards the 0.5 fib line next, we may see some major resistance here. In the event that this resistance is overcome we will most likely see a cup and handle formation appear with LTC jumping up towards the 1/1 gann ratio. I put a possibility of the initial curve in green. If the 0.5 resistance is not broken, there's only two ways to go, sideways or down, you might want to sell here . Now you may be noticing a lot of "may"s, "might"s, and "most likely"s...
Here are the issues
The RSI is super bearish. I'm not going to lie, I feel it; this is a big boom, and at this point I can feel the FUD. 5% in a bear market is always a "too good to be true" feeling. Also, there really is no solid support line close in range that comes next, this gives LTC a lot of room to fluctuate and lack of predictability: not good.
But...
This is crypto. We are going to see big bull runs, way bigger than 5%. It is reassuring that this is LTC, a coin with a reputation for rallying right before a BTC bull run. And despite the RSI, Crypto Compare lists LTC as 3rd in total USD volume, that's always something to consider.
My prediction
This is going to play out as a cup and handle, the first curve will follow the green line I drew roughly, sell here to be safe . If the resistance is broken at .01888 BTC, get ready for a legendary bull run, but I do not think it is likely. If you have bought: I wouldn't sell. If you haven't bought: you can, but prepare for a dip if you buy late, this seems like a good way to make 20% returns, but you have to be careful with your timing.
A little more upside before a big dumpLitecoin has a little more upside before we might go back down to 0.001 BTC to fill in that void.
I see 2 areas of resistance which is the 0.014320 level and the 0.015150 level.
If you are long Litecoin it is probably a good idea to take profits at those levels i think. i do not see it go to new ATH's just yet
Target reached, LTC should retraceA few days ago I talked about how good April is going to be for Litecoin. My target was of around $82 and we have reached $84 already, way before I expected. Bitcoin has made a huge green candle up to 5100 in major exchanges and is facing now what it could be the beginning of another big and last impulsive wave down. I´ll talk later about how I see the market in the long term and when and where I´m expecting this to end, but for now it not finished.
We could see another small pump today? Yes, so if you like this idea and want to trade it but you are not sure yet, then wait until tomorrow´s new daily to see where it have stopped and then take your trade. Once again thanks for watching and hope to see you in my Telegram group soon.
Previous analysis
LTCUSD Still Best Performing CrytpoIf you have the guts for exposure to such high beta (if you're familiar with the concept of variance) then getting into a basket of crytpos is for you. And if getting into a basket of cryptos is for you, then most of your exposure should be to Litecoin, not Bitcoin, Ethereum or EOS. As stated several times and reinforced today, Litecoin remains the best performing crypto if entry in late 2018 to early 2019.
Litecoin Short Becuase Doji Signals A ReversalWe all know doji patterns after an uptrend suggests a reversal. LTCUSD saw yesterday form one of these patterns. However, the difference between LTCUSD's doji yesterday is that it did not really come at the end of an uptrend. Rather, price action has moved mostly sideways over the past week of trading. Because of this, I would not start lighting your hair on fire and selling all the Litecoin you have. On the other hand, stochastic and RSI remind us that we have a bit of a ways to go before overbought signals are flashing. However, once they do, get ready for the exits as price action in LTCUSD can move incredibly fast. For more analysis, check out www.anthonylaurence.wordpress.com
Litecoin just about to break down the current trednlineLitecoin is not being able to break 61-62 level with conviction and is currently just on the edge of the trendline that gave support to this uptrend. If the price manage to breakdown the channel you will see a nice drop with huge volume involved.
Litecoin retracingBitcoin as well as main altcoins like Litecoin has enountered big resistance. This should send us to retest the lower levels of the channels, so Litecoin could go now to as low as 52-55.
$LTC - 4HR - SHORT - After sharing my idea it looks to be happening, going to follow through and take this trade as a small hedge against a bitcoin pullback here
Crazy April for Litecoin?A few days ago I published an idea talking about the LTC retracement taking place, the days are passing and the price is going further in my direction. The retest of the channel is inevitable if the price wants to continue inside of it, so I consider this correction a very healthy movement. But could really LTC go towards $80? Absolutely, in my opinion April could be mad, a mini bull rally like the ones of those days back in 2017. The thing is that it wont last much and if finally it happens will be a huge bull trap for many.
The upward channel is intact, the sentiment on LTC is quite strong at the moment, in my EW count, there is one more wave 5 left and I think that Bitcoin will sideways for a while now, the perfect ingredients for a super pump but let´s see, unless someone lend me a crystal ball I´ll have to keep monitoring the markets, and so far this scenario needs to be probed first with a good support around $52-$55.
As always I´ll keep updating you, thanks for watching.
Litecoin Best Performer from February 2018 until March 2019From February 2018 entry until early March 2019 entry, LTC is the best performing crypto. Not much else to say beyond this other than its still extremely high beta.
If you would like more words with my financial analysis please feel free to check out more content at www.anthonylaurence.wordpress.com
LTC nice run, time to short.Short term reversal incoming.
PA is lining up well with the indicators too (simple bearish divergence on 1D chart)
decreasing volume on this move up.
1 more bump up, into previous support now turned support.
I'm closing off my trade at T1, I barely trade but when I do, I go safe.
T1 - 0.128 or there abouts.
T2 - 0.115 or there abouts.
will be following this up with a trailing stop.
Ideal entry be around 0.154 - 0.16
My stop aat 0.168
R/R 3.37 at T1
PS, resize the indictaors to better see the graph.
Short LTCUSD | aggressive entry | Good area to short?Hi guys.
Just got this (hopefully) nice short entry, for myself and friends I manage for.
I know what I'm doing, it's not just randomly chosen. Most would probably not have the guts posting a trade like this. I'm not perfect though and there is a considerable chance that it could go wrong.
If my thoughts are correct, it should go down right from here, and fail to break and close higher on greater time-frames.
Thanks for reading
Litecoin drops again and further to go!!SELF DEVELOPMENT/METHODOLOGY/PSYCHOLOGY
Litecoin Is being rejected by important resistance levels!! Looks like we are heading back down again
BITFINEX:LTCUSD is down by more than 91% over the past 12 months!!. Litecoin has been rejected by the 33.800 level and If it drops below the 200 MVA, we are looking for another significant drop to the @23.200 level, thats another 30% wow!
From my experience stay on the sidelines or short sell!!
Follow your Trading plan, remained disciplined and keep learning !!
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Thank you for your support :)
This information is not a recommendation to buy or sell. It is to be used for educational purposes only!
Update idea
A quick short setup for LTCBTCTodays short setup for LTCBTC
This is a short term trade based on:
Bear Div in RSI, RSI oddly high on the lower timeframes
Volume still dead
EMA 20,50,VWAP all below current price
No real zones of support around this price
Lower high pivots
Lower timeframe price action 5m-15m supporting a continued dive after current little pullback to the upside
3rd solid Test of 61% fib, all the above supports we break it
THE TREND IS YOUR FRIEND.
This is a solid setup in my opinion with minimal upside (3.85%) - Stop less is set just above the recent pivot high.
Will cover half my short @ 0.012 (+7.5%) then let the rest run - real chance this could free fall...but more likely we just continue to see a bleed out, will probably cover before futures settlement date.
Risks: BTC moon run.
LTCBTC - ShortHi,
Can anyone tell me why you wouldn't short LTCBTC right now?
It may well be a slow burn short..but I am struggling for a reason not to put a small short in here & let it run:
Bearish because:
No pending news until September
Volume disgustingly low and falling
RSI bearish
MACD weak/bearish
Volume profile resistance is huge with little to no support to the downside
Classic ABC retracement waves formed
Bearish descending triangle
Fib lines plotted last, line up well with short expectations
Heavy EMA 20/50/100 resistance
Many other projects with good newsflow incoming - ie Where are people going to invest their capital..
Risks?
BTC goes full bullmode, institutional money flows in - all maincoins pump
LTC releases some surprise news
Trading plan:
Entry - 0.01582
Stop - 0.01655 (Risk 4.61%)
Target - 0.01366 (Reward 13.65%)
2.96 Risk/Reward ratio
This is not financial advice, just my trading plan.
LTCUSD - Bearish Descending TriangleSo looking at the Litecoin chart I am also bearish in the short-term (weeks to months). Litecoin is forming a descending triangle with a base at about $110 which has held several times. There is also pretty strong support around the $100 level. The descending triangle is a bearish formation that usually forms during a downtrend as a continuation pattern which would mean further downside for Litecoin. Actually, as I am writing this the price has dropped below the
$110 level so we will have to see if it can regain the $110 level or if this is the start of a larger drop to the $100 level or even lower.
Besides at the $100 level I see a support zone around $80 but if that does not hold I could see the price dropping to the $40 to $60 level. As I have said I will be watching closely for trading opportunities and also for opportunities to
add to my long-term Litecoin holdings at discounted prices.
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 heading to 226If you look at the bigger picture, you will find LTC forming a beautiful inverse H/S pattern indicating we are due for a breakout soon @ 165.
It will not take too long and we can be there as soon as next weekend.
So don't loose patience as it will be rewarded soon.
$LTC Litecoin resistance line reached, SHORT it then BUY the dipLitecoin is finishing out its pennant and were about to hit the downside of one of its last hills. Short it now if you're holding, then buy the dip.
This is going to hell i Guess ! #Litecoin #LtcUsd #Crypto I don' kno why this happening on this , but due to this chart i won' go on wrong long side like never !
