Original Analysis Date: 8/1/20 8:00AM EST
To be tracked and re-evaluated for time-frame changes as price-action progresses; price targets below:
Weekend (8/1-8/2 UTC close): $63, $56, $63 (2X at resistance)
Week 1 (8/3/20): Move to $70-83
Week 2: break $83 and move to $100 [$83, ~$70, $83 (2X at resistance);
Week 3: Break-out Move to $100/$120; $100-$120...
If the S&P doesn't stage a comeback above 3190 ASAP (highly doubt it), it'll retest 2900 - if it can't hold there, look out below; we could be heading to 1800 this year. "Oh no, that will never happen! The market can't just lose half its value..." We've been forced into complacency and pushed into more and more risky assets searching for yield (under 1% on the...
If the S&P doesn't stage a comeback above 3190 ASAP (highly doubt it), it'll retest 2900 - if it can't hold there, look out below; heading to 1800. Could it actually happen? As crazy as it sounds, check out 2009 and step back for another look.
1W trend support going into weekend looks strong - next week looks like it could be great, and thinking its definitely time to accumulate/increase those long positions again. FIB Retrace tagged the 61.8 as well, next weekly bar after Sun 8PM EST close will tell us a lot more....but I'm betting we get a nice move up from here
LTC is due; it's settled down from last weeks rips, let BTC take the spotlight - supporting overall crypto growth - n found its base for launch before the halving. One more parabolic move in the cards... see you all at $180LTC.
Chart: 1W purple dash, 1D Purple, blue lines 4HR trends
LTC surging back - nobody is pricng in potential LTC Futures on TD Ameritrade. Great set-up tonight before UTC close at 8PM EST ...in my humble opinion.
Let's get it!
I think we're getting a big reversal this week in the ratio... time will tell but the historical $$ rotations in recent months have me expecting a little love heads back to LTC before halving. BTC needed the breakout, but LTC hasn't kept pace (yet) as usually. Technically this sets up a pretty uptrend...and if it is bouncing finally....a 3rd attempt at recent...
This looks like a potential reverse head and shoulders set-up to me. We have some longer term up trend support coming up, so if you can survive the volatility and wait it out - this could be the chart/technical catalyst that gets us a rip into some of these lofty $145/$185 price predictions being thrown around!
Beautifully setting up for the upcoming week -daily and weekly bars closing soon. Accumulating on these pull backs, and targeting at least $100-105. BTC provides support and we could actually shoot all the way ro $140-170!
Everyone n their mother is calling for LTC correction to bottom in the high 60's - so, that's priced in folks. Are you faster than the machines? As we all start thinking, that expected bottom may float up I believe. I am still scaling in...today into the weekend for a Sunday / Monday major reversal.
Imo, We missed by a few, but the 1d trend is a strong factor...
The 1d upward trend line has provided long-term support since the lows earlier this year, while the recent down-trend line since April's high's has acted as strong resistance. LTC tagged the 61.8 fib retracement and these trend lines converge this weekend for a potential breakout; the symmetrical triangle pattern suggests continuation of the uptrend to retest...
