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LTC-BTC

$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
Long
by KongTrading
1
LTC/BTC Analysis - Long Term (First Step)Dear all, It is my first published idea which will be dynamic and I am willing to keep all analyis in same chart. I hope you will benefit from my analysis. Please feel free to comment on the analysis Long Term quick snapshot: Currently BITFINEX:LTCBTC is on the 25th April level and big support zone. Long term ascending trendline indicates 0,0160 cannot be easily broken. Long term descending trendline is well above the current price so that LTC has advantage to go up freely in long term Regards,
Long
by nutrygina
On Balance Volume (OBV) plus CMF divergencesOn Balance Volume (O.B.V.) 1. Introduction 2. Definition 3. Example 4. Conclusion 1. Introduction The On Balance Volume indicator (O.B.V.) is used in technical analysis to measure buying and selling pressure. It is a cumulative indicator meaning that on days where price went up, that day's volume is added to the cumulative O.B.V. total. If price went down, then that day's volume is subtracted from the O.B.V. total. The O.B.V. value is then plotted as a line for easy interpretation. On Balance Volume is primarily used to confirm or identify overall price trends or to anticipate price movements after divergences. The basic theory behind the On Balance Volume indicator is that volume precedes price. This is important because it allows the O.B.V. to be used for a couple of different purposes. It can be used for general trend identification or confirmation. It can also be used to anticipate price movement after divergences. It is important to keep in mind that the O.B.V. measures volume levels in relation to the price. I highly recommend using the Chaikin Money Flow (C.M.F.) in tandem with the O.B.V since the O.B.V. will not always give you a clear divergence. See: 2. Definition If the closing price is above the prior close price then: Current O.B.V. = Previous O.B.V. + Current Volume If the closing price is below the prior close price then: Current O.B.V. = Previous O.B.V. - Current Volume If the closing prices equals the prior close price then: Current O.B.V. = Previous O.B.V. (no change) Resources quoted: www.tradingview.com(OBV) Now for the important part... 3. Example As seen on the top chart labeled as Divergence #1 (LTC on the daily), the O.B.V rose in tandem with the price action. What does not show is the bearish divergence on the C.M.F. Buy pressure does not always show accurately on the O.B.V. due to the way it calculates the inputs (which is why I recommend using the C.M.F. with it). As price rose, the C.M.F. gave us a very clear bearish divergence that would of allowed you to exit out of a position and flip. As can be seen in Divergence #2 , we re-tested the past resistance with less than convincing volume on the O.B.V. & the C.M.F.. Bulls went at it again 11 days later in the same divergence and ultimately failed due to lack of volume/buy pressure. Once again, this set up a perfect short position. If you were to trade this, you would continue to add to your short during that 13 day period and closely monitor these two indicators for a break into positive buy pressure that would pull it out of its divergence. This rarely happens, but TradingView allows you to set alarms on indicators and you would then exit out of your short position at a small loss. In this example, we also see a nice bearish divergence in relation to the prior rally labeled divergence #1. Divergence #3 shows a beautiful bullish divergence. Price action dropped as volume and buy pressure picked up on the O.B.V. & the C.M.F.. If you were to trade this cautiously, based on those two indicators, you would enter into the long position at the end of the yellow box where a breakout occurred and was confirmed by the rise in volume. An aggressive and risky trader would have bought the oversold candle. However, nothing showing here gave you an indication that was the bottom other than the slight bounce on what could be called an O.B.V. support line in yellow.
by Nick_Core
30