LTCBTC formed a bullish BAT pattern | Upto 101% expectedPriceline of Litecoin / Bitcoin cryptocurrency is forming harmonic patterns with continuity.
1st the price action formed bullish Shark pattern and gave more than 168% profit, now it has formed bullish BAT and entered in potential reversal zone.
Price action is hitting the support at 0.007001 sats which is not broken since Oct 2017.
Volume profile of both patterns together is showing less interest of traders below 0.007001 sats strong support.
Volume profile fixed range of only current butterfly pattern is showing low interest of traders within potential reversal zone so there are more chances that the price action will take bullish divergence from here soon insha Allah, however for secure trade we can wait for next candle stick to open and close sideways within PRZ area.
I have defined targets using Fibonacci sequence:
Buy between: 0.009461 to 0.008255
Sell between: 0.012336 to 0.016653
Enjoy your profits and regards,
Atif Akbar (moon333)
Ltecoinbtc
LiteCoinWe can see how LTCBTC moving in uptrend. We touch top 3 time - this is patter called triple top - reversal patter. Also we can interpreted like head and shoulders - reversal pattern. But we in bull trend and this formation we also can interpreted like a impulse - correction(in triangle or horizontal channel) - impulse . But I think first we will go the trend black line at 38.2% level Fibonacci. So this good position for short.
Litecoin (LTC) Very likely to rally 20% further. Xzhi is long."Litecoin does look quite good from a long term standpoint, but with Bitcoin hovering near 6000, I would be wary longing. Litecoin may pop off in a black swan event similar to XRP and DOGE, so you may buy the breakout. "
That was my comment from the last Bitcoin idea. Now I am long LTC and up over 4%. I have bought more LTC 9550.
I expect this rally to go 20% percent or higher in a black swan event similar to Doge or Ripple. Once it completes, we may short Litecoin to the ground. However, Bitcoin must be moving up to 6900 for this to happen. I believe it will so I posted this chart.
Buy:
9550
9464 (most likely target)
9365
Stop Loss:
Close below 9290
Take profit:
11000
My take profit will be manual as I can monitor.
Even if Litecoin closes back below, there is still a chance for it to pop off, as long as it holds 8363 and moves back up.
Thanks for viewing! Doge and Ripple popped off. I believe Litecoin will do the same.
LTCBTCLook at cicle. Now we in recession zone. If we break out support line we will go to the 50%-61.8%-78.6% level fibonacci.
Fundamental
About LitePay
After the AMA with LitePay CEO Kenneth Asareall very crucial and fair questions about LitePay, remained unanswered. This can be a trigger for further lowering the price of Litecoin.