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LTC - Planning for Each OutcomeWe are very close to a decision point here with LTC. We have tested the orange resistance line around $193 three times since we found support at $162. From this we have created an ascending triangle pattern which we could either to decide to trade the breakout or build a position from here. As we are currently at the top of the triangle, I am willing to wait for either a pull back to the red Fibonacci levels to enter a position or, if this doesn't happen, then wait until we break upwards of this pattern and enter a trade there. When I enter a position within a continuation pattern like this, I always set a tight stop as these are risky entries. I would see a pull back after the breakout of this pattern as a better entry with high probability of profit. Breaking upwards from this pattern I would also expect to break out of the downwards channel that we’ve been in since 20/02 and this should give us bullish confirmation with the 20- and 50- day EMA crossing above the 100- day EMA. The next resistance in sight would be the $224 level which would be a key area. We could take profits here and wait to see how the market responds to the resistance before entering a new position. If we failed to break upwards from this pattern then we would be headed for the previous support level again. Failing here would mean we would be heading back to the start of wave (1). We have had warning from the bears that they are expecting a crash pattern so this would be the area of most importance that would confirm their bull trap scenario. I am bullish on crypto so personally I don’t think we would get that far but it is always good to see the perspective on both sides of the market. In the end, it doesn’t matter who’s right or wrong as long as we listen to the market and prepare ourselves for each outcome. Thank you for taking your time to read this! Please feel free to leave a comment/question below and if this added value to you then give it a like! Peace.
Long
by JoshThomas04
Watchlist Update 26 | BTC, LTC, NEO | Double Bottom breakoutHi everyone, here’s another late overview of what I’m looking at on the charts. Person the exhaustion, I’m still getting used to these night shifts. BTC-USD Coinbase | BTC continues to find equilibrium and is finding trouble breaking above 9700, but if the RSI cools off on most timeframes then we can see a climb to around 10100 where I expect a new equilibrium pattern to form, then it may push above that and find less resistance upward to 10450 (as per my fractal-Ichimoku system, whatever you may call it). LTC-USD Coinbase | LTC is still correlating with BTC, it did not see a double top like BTC but rather a larger higher low and lower high, a healthy equilibrium setup for the bulls. For context I’ve added a photo of the 15minute, where you can see how it’s attempted to break above the ascending triangle. In the video I grappled with whether I’m neutral at this point. I’d say watch for a bull break of the triangle, then of the fractal at 193, and finally the uppermost fractal behind that at 194.55 or you can use the previous bear flag behind that which coincides with a flat kumo top. The latter will be the beginning of relatively strong resistance, so you may even want to consider choosing that as an area for moving your stop loss if price breaks above it. NEO-USDT Bittrex | I noticed NEO was ahead of many of the other names in that it has broken a recent bull fractal, though it has been overbought for a while on many timeframes. A break above the neckline of the double bottom on the 4h would be a stronger bull signal in my opinion That’s all for tonight. Be sure to check out my status update for other ways to follow me on social media or find the link to the Cryptide Discord. You guys have a great week ahead. Roti out. -- This is for educational purposes only and is not intended as financial advice.
by RotiWokeman
2
Litecoin (LTC-USDT) to Dollar not looking to strong longterm Litecoin isn't looking so strong right now against the Dollar/Tether. Personally, I was riding Litecoin myself in search of greatness, but after recently being unable to break through a long resistance line & repeatedly creating Lower-Highs, I got out. Currently Litecoin is following a similar Bitcoin pullback. Not to say that retracements aren't healthy for a market, and we could certainly use a good shakeout after all the nice gains we have made recently. Litecoin may be paying a visit to $163 pretty soon. Here are my reasoning... -Recent Lower-Highs with longterm resistance barrier (mentioned that already) -Currently near an important support level of $193. Since it has already touched $193, we can no longer call it a Higher-Low, thus this is a Support level. -Volume has really gone down, and this is likely the most important key factor. -During the big rally on Feb 13th - 14th, Litecoin went straight from $160 to about $235 without any constructive resting points. -If Litecoin break $193 support, there is nothing stopping it from dropping straight back to $160 range. $160 is a real possibility. Like I said, I personally am currently out of Litecoin. If it turns for the upside, I am perfectly happy missing out on small single digit gains than taking double digit losses.
by dream300zx
Litecoin's small Rally Before Further CorrectionRSI is oversold so litecoin should correct to the upside or consolidate but RSI is a gauge of momentum and a push into oversold territory for the 1st time in a while signals bears are in control. After the huge run up Litecoin saw with the news of the hard fork I expect a healthier correction than we have currently seen. The .5 fib is also a long standing support/ resistance line that I believe will act as a zone of increased buying interest. The current volume did spike but the ensuing move does not seem to have the strength to be the pivot of reversal, just a correction to the upside.
COINBASE:LTCUSD
by jefskers
LTC/USD: Decisions are approaching - Waiting on King BTC's moveLTC obviously took the lead over "The big 3", since then BTC has moved 60% without making much effect on LTC's price, it has been sitting sideways for the past few days to 1 either give it's next leg up to target the 10 month old trend line which will meet with resistance around $300. Scenario 1 : It'll breakout upwards IF BTC can break out of $11.5-11.7k out of it's major Log downtrend line. BTC has a scenario that if it fails it this breakout it can retrace back to $8k around the dates of March 8-10. Ironically LTC has a very possible scenario to form a bull flag instead of a pennant if it fails the breakout bringing it back to re-test the break out. Also this scenario is supported by the rising wedge formation. Base formation price of the rising wedge = retrace of the rising wedge breakdown which = exactly to the price of the breakout for a retest. Scenario 2 : BTC breaks out of it's major log downtrend line around 11.5-11.7 I do see BTC targeting these levels as it also formed a rising wedge broke down and retraced the price of the base of the wedge. It then formed a falling wedge (bullish) and broke out upwards which it "should" make it re-target the previous top from the risiing wedge breakdown = ~11,600 which again, ironically makes it meet with it's log downtrend resistance. IF it breaks that will most likely make LTC breakout upwards as well from $216 Resistance. This will be one exciting weekend to follow. Practice risk management and trade what you see not what you feel. Remember bullish patterns inside bearish patterns don't win. IF the do fail a breakout, charting the RSI on both LTC and BTC do show that March 8-10 can be zone of reloading. Don't trade off this chart. It's only possible scenarios. Here is my previous LTC analyses that I was updating on the daily. Nothing has changed besides new trendline updates.
COINBASE:LTCUSD
by jovani7919
3