LTCUSD.P trade ideas
Litecoin updateAfter a textbook buy the news and sell the event move on halving event, LTC is once again nearing the support around $70 mark. It will be a crucial level to watch. If markets continue correction phase and we breach this level we can expect furthermore downside, however if this level holds, a bounce above $80 to resistance around $83-$84 is inevitable.
Long LTC Educational Longs Litecoin, a popular cryptocurrency, recently underwent a significant event known as the halving. This event, also referred to as "halvening," has important implications for traders and investors in the cryptocurrency market. In this educational piece, we will explore what the halving is, its effects on the cryptocurrency, and potential trading strategies that traders may consider in light of this event.
What is a Halving?
A halving is a scheduled event that occurs in the cryptocurrency world when the number of new coins generated and earned by miners in each block is reduced by half. This mechanism is embedded in the code of cryptocurrencies like Litecoin and Bitcoin as a way to control the rate at which new coins are introduced into circulation. The halving happens after a specific number of blocks have been mined. For Litecoin, this happens approximately every four years or after every 840,000 blocks.
Effects of Halving on Litecoin:
The halving event has several important effects on the cryptocurrency ecosystem:
Supply Reduction: As the reward for miners is cut in half, the rate at which new Litecoins are produced decreases. This reduction in the supply of new coins can lead to a decrease in the overall rate of inflation for the cryptocurrency.
Potential Price Impact: The reduction in the rate of new coin creation can create scarcity, which has the potential to drive up the price of Litecoin. Historically, both Litecoin and Bitcoin have experienced price increases following their respective halving events. However, it's important to note that past performance is not a guarantee of future results.
Trading Strategies:
Traders often devise strategies based on their assessment of the halving's impact. Here are a few strategies to consider:
Buy and Hold: Some traders adopt a long-term investment approach, buying Litecoin before the halving event and holding onto it in anticipation of potential price appreciation over time.
Short-Term Speculation: Traders with a higher risk tolerance might speculate on short-term price movements around the halving event. They might aim to capitalize on the increased market volatility that can occur during these periods.
Post-Halving Accumulation: Another approach involves monitoring the price action immediately after the halving event. Traders might wait for a potential dip in price and accumulate Litecoin at what they perceive as a discounted rate.
Diversification: It's important to remember that cryptocurrency markets can be highly volatile. Diversifying a trading portfolio beyond Litecoin can help manage risk.
Risk Considerations:
While there are potential opportunities associated with trading around halving events, there are also risks to consider:
Market Volatility: Cryptocurrency markets are known for their extreme volatility, and halving events can exacerbate this volatility.
Unpredictable Price Movements: While historical patterns suggest price increases after halving events, this is not a guarantee. Price movements can be influenced by various factors beyond the halving itself.
Regulatory and External Factors: Regulatory changes, security breaches, technological developments, and global economic events can all impact cryptocurrency prices.
In conclusion, Litecoin's halving is a significant event in the cryptocurrency world that has the potential to influence its supply and price dynamics. Traders have various strategies at their disposal, but it's essential to thoroughly research and understand the market before making trading decisions. Due to the inherent risks in cryptocurrency trading, individuals should consider their risk tolerance and conduct proper research before participating in any trading activities.
LTC halving is coming 🩸Pls #DYOR 🙏
As a trader i go with historical data 😳 past history 📌 talk 🦜 dump at halving time 📌
Even now we can see no movement when old coins their partners 😅 BCH , ZEC etc ... Coins doing 1-2x above it was still calm 🤣
BUY :: $96-105
SELL :: $86 & $72.6
STOP LOSE 🚏 day close above :: $108.6
Give boosting and share 📌
LTCUSD long positionLTCUSD is approaching a key support where we expect some sort of bounce.
The price has been forming a falling wedge and once we get a breakout, the price will go higher.
Volume is pretty low on this sell off so we think that the support will fail.
RSI approaching oversold levels.
2 targets are shown on the chart
You can enter long at the support or wait for a breakout of the falling wedge.
Good luck!
A big breakdown looming?Litecoin is again catching our attention as it is approaching the lower bound of the pattern we introduced in late June 2023. If the price breaks below the lower bound, it will be bearish for LTCUSD in the short term, and we could see a further breakdown in the price. In such a scenario, we would not be surprised to see it drop below $70. As a result, we are on high alert.
Technical analysis gauge
Daily time frame = Bearish
Weekly time frame = Slightly bearish
*The gauge does not necessarily indicate where the market will head. Instead, it reflects the constellation of RSI, MACD, Stochastic, DM+-, ADX, and moving averages.
DISCLAIMER: This analysis is not intended to encourage any buying or selling of any particular securities. Furthermore, it should not be a basis for taking any trade action by an individual investor. Therefore, your own due diligence is highly advised before entering a trade.
Long on LTC targeting previous highsBuy zone between $77 and 60$
potential upside of 50% targeting 2023 high.
Personally have 2 TP points. $95 and $120
LTC 8/16/23LTC the big walls are gone on the depth chart on CB? So I will watch LTC fall & make some small moves IN & OUT
Big moves down with the China economy news!
Be Carefull
Litecoin Macro outlook vs USDI've been seeing lots of LTC, hopium bullish into the halving, tweets.
Well, the reality is that when the 12 and 21 EMAs cross to the downside on the weekly chart, it tends to be very bearish for Litecoin.
Arrows are presenting those crosses, and you can see the downside that happens after the crosses happen.
On average, the downside is 58%.
That would mean that Litecoin could bottom somewhere around $25-35, if the cross happens.
Usually, Litecoin's pre-halving pump tends to be over 3–4 months before the halving(the halving is happening in August), which is another indicator that LTC topped.
But there will be sunshine after the rain.
Those lows would mean that LTC hit the generational bottom, and at the same time, the BTC pre halving hype will start.
That is when Litecoin and Bitcoin tend to proceed into a multiyear bull market, which will be led by Litecoin.
Follow, like the idea and feel free to leave a comment.
Check out other ideas if you like this one.
LTC 8/11/23LTC will fall around $77 I will get IN!
LTC will rise around $110 I will get OUT!
42.85% measured move!
LTC ROADMAP AFTER HALVINGLTC looks bearish because its pretty normal after halving.so another pullback expected.asap LTC could boom.but don't rush.careful with short positions.B waves always mysterious.so be aware.Trade Safu!.
IS LTC about to launch?Just watching some patterns and keeping the world news and blockchain milestones in mind.
LTCUSDTHello Traders,
As we can see that after a long bearish transversal now we can expect a bullish trend from here as we can expect a pull back from here.follow chart pattern to open a position.
Litecoin Halving Complete - what next?The 2023 Litecoin halving is complete. Block rewards have reduced from 12.5 LTC per block to 6.25 LTC per block.
Last Litecoin halving in 2019, the price of LTC sold COINBASE:LTCUSD off about 77% before starting the next bull run up to $419.
Currently, sitting at $83, a similar sell off would cause litecoin to trade down to around $25 per coin.
LTCUSD: Are you guys ready for 124?Dear traders,
Hope you are doing great, we have an excellent opportunity to be involved with this great cryptocurrency LTCUSD currently in consolidation phase and soon we will be seeing an excellent BULLISH IMPULSE taking price to the maximum level 124.00
#LTCUSD- LONG BIG MOVE TARGETING 106!-After a months of bearish and seller control price recently have shown the bullish reversal, potential a long bull trend has began. Price bounced at the daily external liqudity zone.
-Our first target that we are aiming is 106 however if we break that trend then it will be an indication of the long run.
-Trade will be activated once it shows some retracement so we will have a spot on entry.
-If you like the idea, do let down your views in comment.
LTC forecast for the rest of the summer.Looks like LTC found good support on the bottom of the inner channel and we should see a small pump up to the daily SMA's at the very least or even up to the heart line at the most because there is not much room to the upside on the 4HR RSI. From there I expect the LTC price to dump to the bottom support line of the outer channel which will coincide with the daily RSI touching oversold. From there we obviously ride to the top of the channel keeping an eye on these indicators to exit.
Since the halving pump didn't happen, I don't expect a dump. The trend will continue until LTC breaks out of macro chart patterns seen on the weekly that have targets of $160 and $400.
This not financial advice. Entertainment purposes only.
New idea for LTC. Repeat of history?The last time LTC had a false bull ... it turned out to be just wave 1 of a large impulse wave that took LTC to $400. Of course, that coincided with a BTC rise, and the much anticipated "alt-season".
But go back to 2020, end of summer, and you will find a very similar pattern. If I follow this pattern, we could have a swing low to the bottom of wave 2 ... around $50 ... I'm timing the B peak and the C bottom, when the ichi cloud has a twist (see transition from green to red, or vice versa) ... then perhaps it starts to take off?
Let's see if history repeats itself.
LTC Price Contraction Hints at Imminent Breakout!Bearish Channel in 4-Hour Chart: LTC's price has fallen within a bearish channel, resulting in a 27% drop over the last 40 days, reaching the $80 support level from a high of $113.
Sideways Movement at $80: Litecoin's prices have remained sideways for the past week, staying at the $80 level.
Rejection at 50 EMA: A bullish attempt to start a positive cycle faces rejection at the 50 EMA, causing a contraction in LTC price and trapping trend momentum, hinting at a potential high-momentum breakout.
Uncertainty of Breakout Direction: The direction of the potential breakout remains uncertain, adding to the complexity of the current price action.
Daily Chart Bearish Pressure: The overall uptrend faces bearish pressure with an ongoing correction phase, and the increasing possibility of a death cross threatens a bearish fallout from the channel.
Potential Fall to $72: If buyers fail to maintain dominance at $80, LTC's price may challenge the $72 support level.
Possible Bullish Reversal to $95 or $103: A bullish reversal breaking above $85 could fuel a breakout rally, pumping LTC's price to $95, and if sustained, the uptrend could reach $103.
LTC/USD Analysis: Litecoin Price Declines after HalvingOn Wednesday, August 2, the planned halving took place in the Litecoin network. Now the reward of miners for each mined block has decreased by 2 times from 12.5 LTC to 6.25 LTC. Theoretically, this should make the cryptocurrency more scarce.
On the eve of the halving, experts were bullish. Thus, financier David Cox voiced a forecast about a possible increase in LTC to USD 189.2. Analyst Michaël van de Poppe provided a bolder upside scenario to USD 200. Also positive statements were made by the creator of the Litecoin project Charlie Lee. However, in fact, we see that the LTC/USD rate fell after the halving.
According to the technical analysis of the LTC/USD chart on a weekly period:
→ The “round” level of USD 100 looks like an important resistance. In 2022, it acted as support, but in 2023 it proved to be able to keep the price of litecoin on the back of a general rally in the cryptocurrency market and the positive associated with halving.
→ The price is near an important support (shown in blue) that has been in effect since mid-2022. The price shows no signs of a bounce, which calls into question the strength of demand and increases the likelihood of a bearish breakout.
→ The USD 50 level looks like a major support, because it kept Litecoin from falling in the second half of 2022, when the same bitcoin was making new lows amid the collapse of the FTX exchange.
A breakdown of the narrowing triangle that forms the blue support line and the psychological level of USD 100 per coin can lead to a significant trend.
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Litecoin to break higher?Litecoin - 24h expiry - We look to Buy a break of 85.11 (stop at 82.11)
We are trading at oversold extremes.
Bullish divergence is expected to support prices.
A break of yesterdays high would confirm bullish momentum.
Prices have reacted from 79.15.
The bias is to break to the upside.
Our profit targets will be 92.11 and 93.11
Resistance: 84.90 / 86.50 / 87.50
Support: 82.00 / 79.15 / 77.50
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