Isolated strength in Litecoin $LTC looks to have come to an endLTC has been showing isolated strength while everything else in crypto have struggled, but local top now looks in and price likely headed back to $50 support.
LITECOIN trade ideas
LTC/USDT PERPETUAL TRADE Sold at $70.48LTC/USDT PERPETUAL TRADE
Currently $70.43
Sold at $70.48
(Trading plan If LTC/USDT go up to $72 we will sell more)
Expecting target $68.30
Incase of early exist will update this anaylsis
Its not a Financial Advice
LTC LONG SETUPLooking at the 1HR chat, we see a bully rally and previous resistance level turning into support. And we see a very strong Hidden bullish divergence on the RSI which signify the bullish move is retracing and will continue to the next phase.
LTCUSD - Corrective since 2017?Little Litecoin, which most people have forgotten about, remains one of the alts that tends to lead the pack (along with DOGE) when an alt season starts. It saw a move from basically sub-$4 up to $420 in 2017. The mania was huge and as you can see in the volume indicator in the lower panel of my chart, there was a large amount of volume concentrated in about a 2 week period in early December 2017.
Volume in the first half of 2021 was fairly steady the whole time and as we look back, we can see clear signs of distribution as volume only picks up when price is negotiated back to higher prices.
Right now, volume is nonexistent and chances are we will see a steep fall in the coming weeks. Short term, however, going into next week, LTC may see a move up to $90 which would be a $20 markup from where we are today.
Ultimately, as BTC.D rises, even if BTCUSD falls, LTC and many other alts will suffer even more. I'd take any longs with care down here as we're seeing some signs of exhaustion and even starting to see some hidden bearish divergence on these high timeframe charts.
The high timeframe charts tell the story, but lower timeframe charts are what will help you get a decent entry. Be cautious going into the new year.
IF (when) the lows come in, they'll likely be around $20-$25 and that would be several weeks before the next halving. We'll take this a week or two at a time, however, expect significant markup going into the halving which takes place on July 19, 2023 currently.
✴️ Litecoin Potential Bullish PatternWhen we look at the last three candles on the Litecoin vs USD chart (LTCUSD) we have a potential reversal pattern... Not yet complete/confirmed.
If Litecoin were to close daily/today above $66 this would send out a strong bullish signal.
Support was found at the 0.5 Fib. retracement level.
While this isn't the 0.618 nor 0.786 Fib. level, when a pair is really strong it can recover sooner such as 0.5 or 0.382 Fib.
This is the case with Litecoin.
We know it has been strong because it moved ahead of the entire market.
Another signal is a hidden bullish divergence short-term.
Looking at November vs December, LTCUSD hits a higher low.
The RSI on this same date hits a lower low... This is a hidden bullish divergence and while a short-term one it is really strong.
There is growth potential.
Higher lows tend to lead to higher high... So prepare!
Namaste.
$LTC moving, closing in on that 10% "pop"$LTC moving, closing in on that 10% "pop"
Made call the 19th
LTC short LTC just rejecteded the 200 ema theres been 3 1 hr vecter cndles with the 4th turning blue sign oh interest declining
LTC USD travelling on its last line of supportInteresting to see this chart working well no sign of any action to the upside but plenty of room for it.
Its happily running its last line of support but be warned if things turn nasty which they could then who knows where the bottom will be after breaking support.
Trade safe guys still a bear market.
Litecoin- New leg up coming?Litcoin was one of the coins that I really liked recently and, indeed, LtcUsd has had a nice run from 50s November's low.
Now the coin corrected the recent leg up and is trading in a very strong resistance zone that lies between 60 and 65.
As long as this zone is intact there is a high probability for a new leg up and Litecoin could rise to test 90-93 zone resistance.
Buy dips could be a good strategy for this coin that also has an R:R of 1:3
LTCUSD ABC correction nearing completion?after 5 waves up we are seeing a massive ABC (variation of) correction and completing the 5 waves of C imho
IF this count is correct, and BTC tumbles to new lows (or at least test previous lows) i think its fair to say we will see market wide corrections
Some Key Levels of Significance:
-$48.88
-$40.27
-$29.52
-$22.83
in particular if this current structure is a true bear flag, i will be most interested in a buy at the ~$30.00 level
not financial advice, just thoughts and notes for me to compare in the future.
Financial Wave. Litecoin, 1hWe continue to stick to our preferable scenario in LTC: a small wave (3) rally that could bring prices into the $68.41-$72.70 range. We allow the price to roll back, but not lower than $61.33 - this mark is critical for our markup.
Litecoin rally shortLitecoin's daily line has broken
Now it will start to oversold and rebound
After the rebound, a new round of decline will start
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Litecoin, 1hOur priority scenario in Litecoin is the growth in a small wave (3) to the range of 68.50-72.76. These are important levels for LTC and we believe that these are only the first upside targets. If the price of LTC falls below 61.21, the upward scenario will be canceled, we’ll revise our markup.
LTCUSD '2D' - Short now or wait a day or two?Litecoin is looking like it's currently floating above the ranging market where it's ultimately going to end up. The question is when.. Do we place a short trade now with our Crypto Tipster v2 signal or do we wait a couple of days when the price (might) hit the top edge of the descending triangle?
The choice ultimately is up to you, either way you're going to be looking at a good 10-20% short over a week or two.
Litecoin-Crypto Technical Analysis if Bitcoin resets to 5k.If Bitcoin is resetting its overall trend and goes to sub or around 5000usd, i was checking what would happen to altcoins?
Ultimately Bitcoin rules the overall criptocurrency not compulsory though, i took Litecoin as good example
since it is one of the oldest blockchain and its chart pattern looks quiet simple and good.
This doesn't mean all the altcoins perform same way, but may be few altcoins outperform Bitcoin.
This Analysis is only based on "If Bitcoin resets its trend to 5k".
(Based on this scenario Litecoin may go to or around 180usd and back to sub or around 5 dollars where its maximum volume exists.
according to double top pattern the length of breakout to top and the same length to bottom, as in the rectangle box.)
Or
There is a possibility that if Litecoin maintains that blue parallel channel it may also go in the upward direction (green arrow line in the Double Top pattern example).
LTCUSD (1H) - Bearish breakoutHi Traders
LTCUSD (1H Timeframe)
The market is in a downtrend and we are waiting for an entry signal to go SHORT below the 62.70 support level. Only the upward break of 65.98 would cancel the bearish scenario.
Trade details
Entry: 62.70
Stop loss: 65.98
Take profit 1: 60.62
Take profit 2: 57.31
Score: 9
Strategy: Bearish breakout
LTCUSDTIt will complete the decline of the shaded area and complete the C wave, and thus it will be the completion of the three historical corrective waves
Litecoin In Wyckoff Distribution PatternThe current chart running back several years has clear signs of a large Wyckoff distribution process. Anticipating an upcoming large upward move into the next halving before a complete collapse.
Litecoin in Redistribution?As this is something we've discussed live extensively during streams, I wanted to take a moment to outline a "live" setup for Wyckoff Redistribution. In this instance, the target is Litecoin ($LTC). First let's discuss what Wyckoff Redistribution actually is, starting with a link to the pattern itself .
Wyckoff Redistribution is a way to truly make sense of what's happening with particular assets. As many already know, trading is hard! What makes it especially hard is the trickiness that happens so tricky. Many times our emotions will tell us to "buy" or that things "FEEL bullish" right before a big selloff. Viewing things in the context of Wyckoff helps us strip away the constant smoke & mirrors & determine what's truly going on.
Here are the key steps & triggers as I see them (Note: ORDER MATTERS):
1) Identify a sustained downtrend (usually -30% or greater)
2) Identify a period of time where price appears to go sideways on the macro time frame (daily candles, with downtrend and sideways each lasting months)
3) Identify the formation of key horizontal(s) where price keeps selling off consistently (short stops & long triggers are being built here).
* This is often the trade range highs.
4) Identify a LACK of lows being run.
* Running the lows is a BULLISH indicator, whereas NOT running lows is BEARISH. Redistribution is BEARISH.
5) After sustained consolidation, watch for the before mentioned horizontals to be BROKEN.
* This is what gets shorts to close and longs to pile on, as a trick.
6) After the breakout, watch for price to close BACK under the key horizontal identified previously.
* Breaking back into the range, rather than consolidating at the highs, is a key difference between the UTAD of Wyckoff Redistribution & the "SOS" consolidation of Wyckoff Acummulation.
7) At this point, your sell/short entries trigger & the anticipated price drop is from the failed breakout horizontal down to the range lows.
* The stops here would be back above the range highs
8) After this move, the market often rallies off the lows in some bearish form (dead cat, Rising Wedge, H&S, etc) where it then falls below the range lows as it heads downward toward its next target.
This concludes the lesson on trading Wyckoff Redistribution. If you have any questions or suggestions, feel free to reach out to me via socials. GL
LTC Bearish Butterfly BAMM Targeting $60LTC has tried to hold this zone up here but it looks like the macro will drag it back down for now. I think it will have a shot at going back up at $65-$60
