jaysag33

jaysag33

The 55ema on the 4hr has finally come down to meet LTC at the $98-$100 range. So far LTC is respecting this resistance, occasionally wicking above but not holding. I suspected continued downward pressure to finally knock LTC to the bottom of the current bearish channel. Additionally, RSI is trending up while price remains level. This previously forshadowed...

jaysag33

The more I play with this the more it makes so much mathematical sense. Measure yourself and decide.

jaysag33

I appears litecoin has been riding the top of the this shortterm downward channel so long that now we're coming close to the bottom of the upward channel from last months bottom. Decisions will be made today.

jaysag33

Litecoin is currently riding the bottom of the channel ATM. $157 appears to be a fairly strong support line too which seems to be holding nicely. My only concern is that its poked below the 55 ema which could indicate the continuation of this short term downtrend and the break of the upward channel. Next larger channel support is at $153-155.

jaysag33

Well since everything is pumping lately, I figured I make a chart for the possibilities of litecoin. 1 to 1 extension would be great, but a lot of other coins did way better than that, so I put a few possible targets depending on if litecoins strength comes back.

jaysag33

This is it right here. Cross this line and it's Miller time.

jaysag33

Pivotal moment here for Litecoin. It's stuck at the top of an ascending channel. Will she or won't she? I don't know but if she does, then its market buy time. If not, then I'll catch 'er on the bottom of the channel.

jaysag33

I am very excited for the future. This has no TA to it, but just a visualization of what's to come some day. last years price action is barely visible today. Today's price action will someday look the same.

jaysag33

bullish

jaysag33 Updated 

Litecoin on the 4hr, RSI is at bottom of a channel. I found a divergance on the 30minute. price is at bottom of pennant right now and holding. May hit 132 again but might not be enough strength to breakthru. 1 more bounce in the 130's then moon.

jaysag33

I see a bullish divergence on the RSI as the RSI printed a higher low while the price printed a lower low. Only a matter of time now before we turn this ship around.

jaysag33

Fibinocci suggests this is a good retracement/bounce area. Bitcoin looks the same to me too.

jaysag33

This can go either way. I'll sit this out and see what happens at the top of the channel.

jaysag33

Litecoin has lost a lot of ground to bitcoin this month. Hopefully it can turn it around here at the end of these 5 waves. More often than not, once bitcoin bounces, litecoin bounces too and right now with RSI and Stoch low too, this would be an opportune time.

jaysag33

That's how you would've known to buy.

jaysag33

Hopefully we bounce here, otherwise I'll see you at $134!

jaysag33

Makes sense to me. targets are 1:1 fib extensions and match nicely with prior resistances.

jaysag33

Everyone's saying up. Nope, I say down. I'm wathcing these channels very closely. Sell the top buy the bottom.