Litecoin Accumulation Phase - Be Ready for the next waveMost traders are prone to hating the accumulation phase of a market because there is no clear sign which way the market will go. If you look at any market which is related to currencies, the accumulation phase is the best time to buy or sell. Sideways price tells me one thing - " buyers and sellers are equal". Now at this point, you might be thinking, "well, that is not going to help me" but it will. What you need to remember is Litecoins price has not dropped below $85 since the $100 high. Whales love to swim in the deep waters with vasts amount of liquidity. This provides them with the best cover to hide their big trades without moving the price of Litecoin. Have a look at the current value area (green box) between $90 - $80, if you are looking to buy at the best price. its possible the price will not drop below $90, try to position a trigger trade if price breaches $95. We will retest the $100 again so don't doubt this uptrend.
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"Patience is the key to any market" - Nathaniel.
Next update will be next week - Thank you for your love and support.
Regards
Nathaniel - "The value Trader"
Little Big Movement
Litecoinusd
Litecoin are in important levelWill halving pushing up LTC? I personally believe that yes. I am accumulating it from January 2019. Now we are on important level. If LTC break 0,011 BTC, perhaps 0,01 are in game. If fundament about halving should stay strong - LTC have to rise, because LTC halving is a pattern for BTC halving. People are expecting pump. If pump not come, they will ask, if the same cannot happen to Bitcoin. If whales wish strong halving pattern, they should help LTC :)
Head and Shoulders This seems to be forming a head and shoulders pattern. It would be smart to wait on this and then short for some good gains.On my last post I was looking at a long position and I was right on the money! Now we are still waiting for this to hit the TP to then take the short position.Shorting around 92.000 would be a good idea.
Quote: “The goal of a successful trader is to make the best trades. Money is secondary.” – Alexander Elder
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LITECOIN (LTC/USD) - Technically Strong AreasThe higher area consists of:
- Fibonacci retracement 38%
- Strong area, only strong candles have managed to crack this level.
- The semi-round number $70
This level should hold us if the BTC price doesn't drop below $4,800
The lower and the better entry point would be around the $50
- Perfect Fibonacci retracement 62%
- Fibo retracement matches exactly with previously worked support and resistance levels
- The round number, $50, should play also a significant role in this game
- EMA's should start to act as support levels around that area.
From the technical perspective, those levels are pretty strong, add here some fundamentals, watch closely what BTC does, do Your own research, etc.
Please, take a second and support my idea post by hitting the "LIKE" button, it is my only fee from You!
Have a nice weekend,
Best regards!
*This information is not a recommendation to buy or sell, it is used for educational purposes only!
LTC/USD - Back To the Future :-) LitecoinI am back again with another market analysis. If you have no idea where I have popped up from that is ok, check out my blog which will give you a little insight into my trading journey.
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LTC/USD - With price currently moving sideways along the VWAP, I believe this is an excellent time for LTC traders. This week I did not do a midweek market analysis on LTC, but what I love about the cryptocurrency is there is less crazy volatility. On the other hand, volatility makes for great opportunity. If you check the price on 6th-8th April, you can see that the ATR deviation band were tested multiple times before retracing back down to the VWAP. The pullback is excellent because it is now enabling long term investors to add to their holding. If you are looking to buy LTC, then ensure you make your purchase under $80. At the midpoint of the month, LTC has already retraced 15% and is the reason why you should never buy above the VWAP.
"Patience is the key to any market" - Nathaniel
Next update will be in the coming week - Thank you for your love and support.
To make my life easier I have built a custom pine script indicator, which gives me an indication of where the value price is based on the criteria I used for my market analysis. Watch this space :-), but I think it is publicly available already, so be my guest and use or enhance the indicator. Just let me know if you make any improvements as it could help me as well.
Regards
Nathaniel - "THe BiPolar TraDer"
Little Big Movement
LTC Consolidation, the next move awaits.We can see that that LTC failed to sustain it's upward pressure and started to pull back, while BTC actually broke to the upside and had a substantial move before pulling back. Remember, we laddered in from 70-60(depending on where you saw my posts) down to 55, even 40 in some cases. We are in very good position to hold for a move up. Now, my last post update said, don't let your profit get from you. You could have easily sold at these highs and made out nicely. There has been plenty of opportunities to do so. But the choice on holding or selling is really determined by your comfort level and how you emotionally react to volatility.
What now? The main critical area we need to watch is this $60-65 area. If this area breaks, we could very well be in for more downside. When we look on the daily chart, we can see LTC followed an oversold pattern and is going through a normal correction. This could give us pause, however the weekly chart looks very strong. It's trend has reversed to the upside, MACD is moving slowly and gradually to the upside. This tells me that this pullback is normal and we should get a stronger move to the upside and as all things cycle, it will take days to consolidate for another move to the upside.
Happy Trading and hodling,
-Sherem