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LTCEUR trade ideas

Possible fractal in LTCEUR, more downside coming? I've noticed a possible fractal pattern in Litecoin, which could lead to a bit more downside. Starting March 5th until March 9th, we've seen a steep decline, followed by a bounce, creating 3 zones where the price bumped into the same resistance every time, after which we saw an even further decline from March 13th until March 16th. At the moment, we already have two zones where the price bumps into the same resistance. If we get a small dip to 130 EUR, followed by a bump into the same resistance without actually breaking it, I think we may see Litecoin get closer to the 100 EUR mark than it did last week. I may very well end up being completely wrong here, since it's my first ever post (so I'm unexperienced), the current situation looks like a bullflag pattern and cryptotwitter is very bullish at the moment. However, when zooming out we are still in a downtrend and the G20 good news feels may start wearing off once people realize that governments not regulating the space this quarter means prolonged uncertainty concerning regulation, which means a clear picture on laws for the cryptomarket is postponed to the next G20 around July. Postponed regulation may lead us to prolonged FUD (Fear Uncertainty and Doubt). Nothing I post here should be seen as financial advice: trust only yourself and act upon your gut feeling and the charts, since according to John J Murphy "all info available to the market is already worked into the price".
by Gnonymous
LTC Correction not done yet? It doesn't look like the correction is done yet. If we consider an expanded flat correction we are now on wave C. According to theory wave C usually is 100% to 165% of wave A. I am not willing to accept yet that LTC will go down to 36 euro (161,8%) so I have drawn the C at the !00% level which is around 83 euro the same level we were on february 6th. At the moment the chanel for C is pretty clear. The most logical thing to happen right now would be that the C wave will unfold in a typical 5 wave structure something like i've drawn in yellow. At the moment the ratio's between the waves doesn't point to that. But things change quickly. Another possibility is that the C wave unfolds as an ABCDE structure. This is wat is looks like at the moment drawn in purple. E wave should, according to theory, finish around the 100 euro. I've sold my LTC at 129 this morning after catching a nice ride up from 116. For now it's a no trade zone for me. By the way I actually hope i'm wrong. Would be great to start an uptrend again.
by Melisar
LTC might enter buy zone soonLTC is currently falling down from the bear flag and is heading towards strong support where it is looking to break up from the bullish falling wedge. RSI is heading towards oversold. A short reversal seems very likely, watch green box and RSI (red circle) very closely. This would be counter trend trading, be careful, we're still in a bear market, this is still a downtrend and the correction is far from over (I expect us to go towards 80 € or lower depending on what BTC is doing)
Long
by s-h-o-c-k
LTC Litecoin Daily pattern - Falling wedge: breakout imminent?On the daily we see a big Falling Wedge pattern arising. The breakout will be soon ... within now and the next 3-4 days very probably. The price will probably rise with an amount of 45-50 Euro (55-62 Dollar) ... assuming that usually the rise at breakout is almost the same as the price difference between low and high price at the start of the wedge. The current price may still fall somewhat below the support line at 131 Euro, but not much.
Long
by MFFD
1
LTCEURLitecoin looks very optimistic, however, due to Litecoin Cash pump I expect a thorough retracement atleast until Fib 0.618. There was a clear double bottom for LTC and afterwards a nice pump into a 5 wave structure. It went right up to the point where it last collapsed 15 January shown by the upper red ball. The thick purple line shows that we break through the longer term bearish trend line, therefore I think we are in the correction of the first bull wave. RSI is bearish down sloping Buy; from 130 -113 euro (previous bearish trend line) At the Fib levels, look for reversal trend signs in order to confirm and buy. Requests for any euro pairs? Let me know in comments!
Long
by kerstjens
7