LTCUSD SHORT Till MIN 112.20 or much worst#Renkotrade
Hello to all watching my charts,
In the fall of all crypto currencies there is one crypto which seems to me
one of the worst and so one of the best short trades.
So lets have a look at
Litecoin / USD = LTCUSD
The pair had had found af fine bottom at 112.20 and started an impresssive rally
from this point to nearly 134 which is 20% up !
Than we had seen unfortunately broke of one support after the other.
First 127.50
Second 127.00
Third 125.80
In additon the trendline long brake
(All these breaks to the low i have marked with black lines here)
If now if you will go long , for a trendchange we must see
minimum the 115.00 in 2 days
or thats the opposite scenario , if the last support at 112.00 will break
the pair will be traded much lower in my eyes.
So be carefull with long engagements here,
check the next days and we will have a decision here.
Good trades
If you want to support my woerk and my charts , please like them...
Renkotrade
But than in the fall of all cryptoswe have now a fall below 3 supports
(sown in black in my chart) and after that no botom is to see.
Litecoinusd
Good Buy Opportunity for LTCHere is my short analysis of the current chart:
1. Price is ranging in between the two trend lines and its at the bottom of the trend line right now
2. Price has just touched 50 day MA and will most likely bounce back up
3. RSI is also at a key support level and most likely to bounce back up because it has acted a key level of resistance and support in the past
4. Stochastic is also at the bottom and turning upwards.
Please let me know if there are some other view points that I might have missed. I'm eager to learn. Hit like if you like my 50 cent. :)
Litecoin/USD: Sudden WeaknessSimilar to Bitcoin, Litecoin did not successful hit its price objective, which was the top of the channel provided in the last analysis. Litecoin did, however, experience a break out from the symmetrical triangle, but it was unsuccessful at pushing through the historical resistance between 142-150 and it experienced extreme rejections from that region.
It can be seen that there is a large diverging channel occurring in the RSI in purple and a small diverging channel in light blue. The channels are coordinated by color, where the larger channel is purple and the smaller one is light blue. I suspect that litecoin will most likely fall out of the purple channel and it will indicate a sign of weakness. It may be in the light blue channel for a while despite the fact that it has fallen out of the corresponding channel in the RSI.
I suspect that litecoin will fall greatly and quickly once it approaches the support of the channel given that there are many indications of weakness, it is possible that this will be the signal that this run is over for the entire crypto community.
Previous Analysis:
Litecoin - Consolidation for the greater goodLet's get right to the chase. This consolidation period is where you should be buying Litecoin in huge bulks. Take a step back and think about how the institutional traders are buying into Litecoin. They are not looking to pump the price, which means they have to buy in areas of consolidation.
Litecoin has been consolidating for the last week, and there is no sign of downward pressure which is going to rock the boat. You also need to remember that Litecoin is a significant stable cryptocurrency for transfers.
Conclusions: Do not worry about the entry price for a longer term hold on Litecoin. Price is currently around $140, and while we are under $150, this is a great time to buy more Litecoin. $137 or below is my current value area for Litecoin, and as we have seen no action over the weekend, I would assume that we have another moon launch coming.
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Litecoin: Important Bullish BreakIn this chart, against USD, Litcoin can be seen in the rising channel, and within that channel there is a symmetrical triangle with a price target of the upper trendline for the channel, 157-160. It is possible that this current move is an upthrust, however, it will be retesting the top of the symmetrical triangle even consolidating there before it makes another drive. If the top of the triangle does not hold as support, it would be an upthrust, and I believe it will be highly likely that it will fall out of the channel if it breaks to the downside. On the daily chart, it can be see that there is a diverging channel in the RSI, however, this just means that litecoin has lost some momentum, in addition, it is highly possible that it will break out of this channel to the upside if this move breaks to the upside.
The RSI is presented here:
LTC long exit strategyBeen riding this entry since $34, the halving pump has meant it could be traded bullishly all the way, i was expecting one final parabolic move to $170-$200 but we cant be too greedy considering the amazing gains its given all the bulls.
LTC has formed an evening star pattern on the daily which is a strong reversal pattern, granted it might just reverse $10-$20 then continue with parabolic moves up, but my current exit strategy is im anticipating a bounce at $121 levels where we made decent resistance previously, im hoping to sell this bounce as soon as it starts to show signs of a dead cat bounce
eg when it bounces from $121 if it starts to stall at $128 that will be my sell signal and the end of a very good long bull run for me.
im also putting a hard SL just below $121 in case there is no bounce and we just have violent drop.
Good luck traders.
Litecoin chart shows a very large potential ahead"Old coin", probably here to stay with Bitcoin Ether and Xrp
Smma daily golden cross
Support on the daily 200 smma
Support confirmed on the weekly 50 Smma
No reason to be bearish regarding this crypto asset for now, chart looks very very promising.
Litecoin is currently testing its strongest resistance, the 110 level. Gonna be interesting to watch.
Stay tuned
Litecoin has no light :-(There is no surprise at the moment that cryptocurrencies are not doing very well this week.
Check out my BTC analysis if you have not seen it already.
Now! LTC has struggled this week to push back above the weekly VWAP (Dark Blue line) which is a little concerning to me. With price consolidated around the previous monthly VWAP level (Yellow Line), which is also the current 30 - day VWMA and the fact that these levels sit on $100 I would be placing my hands in my pockets for now. There is no reason to buy litecoin at this price, and if we drop below $100, there will be a steep drop towards $90.
WARNING: With the weekly VWAP in a downtrend this week should be off limits to buy litecoin until we see a close above the monthly VWAP and price sustains a level above the weekly VWAP. On the opposite spectrum, a close below $100 would be the right place to load up on more litecoin for a long term hold. LTC will not end this year below $100 especially with the litecoin halving in two months. Use the value area on the chart as a guide but be careful as the price could be heading towards the three months low, which is the the 90 -day VWMA (purple line).
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"Patience is the key to any market" - Nathaniel.
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Regards
Nathaniel - "The value Trader"
Little Big Movement