Get started

LTCBTC

LTC could move further downLitecoin has had a tough year trying to keep up with Bitcoin. When we zoom out on the chart we can clearly see BTC has heavily outpaced LTC in 2020. Like many others it saw an increase in value in November, but that run seems to have run its course. LTC has been rejected three times by the 200MA (red arrows) although it did manage to stay above it for two whole days at the most recent test. On the first retest it bounced of the 50MA. On the second retest it plummeted through and has had a tough time since. After the third retest, we can see it is now once again below the 50MA. I believe another rejection could be in the making as volume is declining. Yes, volume is higher than it was in previous months, but so is the total marketcap. I have drawn two very strong support levels around 3900 & 4000 sats and two equally strong resistance levels around 4500 & 4800 sats. As the general HTF trend is still bearish I'll open up small long positions on a retest of the support levels and on a break of the 50MA. Where do you see LTC heading in 2021?
Short
by Coinathlon
A big cap dinosaur is waking up!Hello there, I still believe in Bitcoin protocols, so here is my view on BINANCE:LTCBTC , enjoy! American elections sent market crazy and that's why we have seen a rise in volatility since the last week of October and the beginning of November. Lately, both stocks and cryptocurrencies has gone up and I believe this bubble will keep growing until Trump is putting some uncertainty back into the investors. So here we are with a fresh new chart about an old fossilized Bitcoin protocol. Litecoin at its finest is a censorship free decentralized currency running on its own blockchain since 2011. Alike most of old cryptocurrencies its price has fossilized too and hasn't moved a lot in the past few months - it hasn't moved upwards indeed, especially on BINANCE:LTCBTC pair. Now, let's review some technicals which state the clear bullish setup I've drawn. Trend is evidently bearish and next move won't reverse it at all on daily base, as BITSTAMP:BTCUSD won't go through enough sideways/bearish time for it to grow more. Still it has some room upwards to fill and current Bitcoin move is setting some basis for it. In fact, price action is stuck inside a falling wedge and running below a falling trendline (the blue one) which is very likely to be broken and prepare some further bullishness. All those levels you can see marked on chart are based on Fibonacci retracement: one on larger (white one) timeframe, the other (red one) on current resolution; white has reached it's very bottom at 1.618 level, which was the target for a bearish Gartley pattern, red is stating the formation of a Butterfly pattern (which misses D at 1.272 Fibonacci level). Most of indicators are bearish, meanwhile relative strength index formed a large bearish divergence on daily chart, stating a possible bullish turn. A trading strategy: the very best strategy is about buying at breakout and selling resistance, so I'd recommend you to buy once it has finally broken the falling wedge; nonetheless I'm pretty confident about this, so that in my opinion you can safely accumulate some at red Fibonacci 1.272 support (0.003615) and unload your bag at white Fibonacci 0.618 resistance (0.004880). In either case, you need to set your stoploss below red Fibonacci 1.618 (0.003468), which is an important bearish continuation level. Hope you liked my altcoin trust, see you on next prediction! Trade safe and take care. Anlvis
Long
by Anlvis
3