jbutler7

jbutler7

I've got the 4h chart here, with a potential bull flag on this rising trend. The resistance is the top of the bear channel, so it will be strong resistance since we've bounced below it SO many times. But, the trend is rising and the bulls are potentially going to fight this one for a breakthrough. It's really close and hard to tell, so I'm being cautious with this...

jbutler7

Someone else on here pointed out a double bottom formation on the 4h chart (blue aarows) and that this wont be a dictionary double bottom unless we break 175 first, which is the high after the first bottom. That puts 2 significant resistance levels where my two red aarows are at 160 and 175. The 160 resistance comes from the resistance channel, where one of the...

jbutler7

Based on this, nothing really new except a few points I have noticed. In the downward channel I see that if I divide it in half, the more recent price action is sticking to the upper portion of the bearish channel, getting closer to the resistance line and ready to break out. This will be possible if volume continues to climax like it did yesterday. I am sure that...

jbutler7

On the weekly I see a nice bullish doji candlestick forming. I redrew my downward parallel channel (purple) and added an upward green channel which I hope LTC will continue on riding. The two channels are at an intersected point right now, and will eventually have to ride one path or the other, and I think I know which one that will be. It helps to zoom out of...

jbutler7

Kinda the same as my last few charts, but with today's volume based primarily on SEC news, LTC price has a lot of good things going for it. Now, while this is a technical analysis, the reasons behind it are mostly fundamental. Resistance lines drawn at ~170$, based on downward channel. RSI is nowhere near overbought, and we're already blowing up toward 170....

jbutler7

I typed this already, but apparently my idea didn't publish, so this time it will be brief and joke-less. Basically the daily RSI looks like a double bottom, but still in a downtrend (dotted line), so maybe if it goes sub-30 again we could see a strong push past resistance levels, which I see around 180-190. If there's sufficient volume, maybe a trend reversal is...

jbutler7

First notice that the RSI on the daily is looking for what seems to be a double bottom. Oversold conditions last time shot us from 100s to 175 max, so be on the watch soon. Overall still in a downtrend (dotted line on RSI), but maybe a double bottom like this is a sign of a near-future trend reversal?! (Please comment with your thoughts on my analysis with...

jbutler7

My thoughts on LTC (not fin. advice, please I'm a noob don't listen to me and DYOR) are the following: A few interesting things have happened. First, the RSI daily reached oversold conditions below 30 yesterday, which was the first time since Dec 2016. It was short lived, and we saw a good bounce. My hope is that this isn't just an oversold bounce on the daily...

jbutler7

Based on the daily, I wager that LTC will begin to make steady to big moves back upward. I'd prefer steady to be honest. But it is as the market decides. Daily RSI is entering oversold conditions, which may mean a little more weakness for a few days which gives buyers time to form positions. It probably wont last long though, since the RSI daily hasn't been...

jbutler7

Just a quick look at the MACD daily. It is slowly losing less momentum, which is a plus. Hopefully it will start gaining momentum here soon! First idea ever published, so nothing I say is really valid... unless it is :D