LTCPERP
Litcoin (LTC) • Looking good for more upsideLitcoin can paradoxically be a proxy for how much Bitcoin can also run in the next leg up.
To be honest LTC is currently looking better than Bitcoin but both are overall bullish as far as the monthly trend structure doesn't get invalidated. Watch the video for the details.
Cheers 🍻
I am long on $LTCUSD
Super Algorithm is bullish from $59.24. It has not shown any bearish sign. It has around 66% profitability using three years Coinbase data and going long and closing long.
Litecoin is making a Higher High - Higher low bullish structure and is currently searching for the next higher.
The price has bounced from the demand zone after retesting and now likely going for the purple supply zone above. It is a bullish structure.
Parabolic SAR is coming down and very close to the price while the price is gradually going up. It is a bullish structure.
Price has bounced off the zigzag median line and likely going for the red dot and then the red line above. It is a bullish structure.
Price is consolidating as can be seen from the highlighted area. Once it breaks free, it likely will skyrocket.
TD Sequential on monthly shows an X on the bottom of the current month. It tells me that we will likely get the next few months of price rise. You can see a similar X in the middle of the chart and several months of price rise.
Price respecting the EMA 50 daily very well, as you can see. It has bounced off it nicely.
The recent bars above the average volume are mostly green, indicating to me heavy accumulation. You can see such heavy accumulation by Grayscale as well, where we see currently a premium of 1443%. This indicates to me large funds are buying Litecoin.
Shown on the chart is $224.12. Above this price likely will move super fast and be very volatile. So if I have to long, I have to long below that level. I have shown my Target Profit 1, 2 and 3 on the chart as derived by a combination of Fib and using zones.
Possible LTC 1H BuyIf LTC managed to hold above trendline for a few hours,
we will buy LTC spot and see how far it can go
Stoploss: next sell signal on 1H chart
Easy Trading Indicator for Beginners
When the ema1 crosses above ema2, the area will be painted GREEN in color, and a BUY signal will appear. = BUY
When the ema1 crosses below ema2, the area will be painted RED in color, and a SELL signal will appear. = SELL
Area painted with ORANGE color means ready for flipping your position or take profit from your current position
SHORT - LTCPERP - Trading OpportunityRising wedge on the 4H, getting pretty close to the bottom of the cloud but it looks like it lost all momentum.
Entry: 62.92
TP 1: 60.37
TP 2: 57.32
SL: 64.22
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