It's been a minute since my last idea, but let's zoom out and look at the big picture on a weekly scale.
My Last trade on LTC was riding an Entry of ~$40 in 2020 all the way to $400.. Quite the ride
Now we see similar RSI bullish divergence all the while being squeezed by a constant growth trend and an upper resistance.
**Sorry my chart didn't save on the...
It's been a minute since my last idea, but let's zoom out and look at the big picture on a weekly scale.
My Last trade on LTC was riding an Entry of ~$40 in 2020 all the way to $400.. Quite the ride
Now we see similar RSI bullish divergence all the while being squeezed by a constant growth trend and an upper resistance.
*Not investment advice*
A Few observations for LTC right now:
Bullish
- Support above 21 day moving average
- Cup and handle formation
- Parallel channel with depth of cup breakout extending to top of channel
Bearish
- Could be a bear flag continuation to downside
- Look for a drop to ~175$
I'm not the first to see this pattern forming, but I wanted to project the target based on the distance between head and the shoulder bottom.
I don't like seeing this pattern, should we be concerned? What are your thoughts?
Does this negate the golden crossover for a fake out
To begin, sorry I am a very novice trader and analyst. This is my first ever share
Looking at the 2019 wave up I am seeing a Bull Flag, typically only short term formations are classified as such, else it's a Descending Channel. I think this may have some merit on a zoomed out look. If the having does indeed affect prices we could see this occur around or...
Looking at some dominate trends in BTC price history the path to 100k is still very likely in 2022.
-- We could be playing out the same trend from COVID last year
-- Check out the Rising RSI on weekly, Credit it Philakone for noticing how these concave/convex RSI trends play out
The window for testing the 20k range is quickly closing (Green Triangle)
-- If we...
See my notes on the chart for some of my thoughts!
Do you agree/disagree? Any considerations that should be take into account?
Leave your comments below!
** Not investment advice**
