LTCEUR
Litecoin looks very optimistic, however, due to Litecoin Cash pump I expect a thorough retracement atleast until Fib 0.618.
There was a clear double bottom for LTC and afterwards a nice pump into a 5 wave structure. It went right up to the point where it last collapsed 15 January shown by the upper red ball. The thick purple line shows that we break through the longer term bearish trend line, therefore I think we are in the correction of the first bull wave.
RSI is bearish down sloping
Buy; from 130 -113 euro (previous bearish trend line)
At the Fib levels, look for reversal trend signs in order to confirm and buy.
Requests for any euro pairs? Let me know in comments!
There was a clear double bottom for LTC and afterwards a nice pump into a 5 wave structure. It went right up to the point where it last collapsed 15 January shown by the upper red ball. The thick purple line shows that we break through the longer term bearish trend line, therefore I think we are in the correction of the first bull wave.
RSI is bearish down sloping
Buy; from 130 -113 euro (previous bearish trend line)
At the Fib levels, look for reversal trend signs in order to confirm and buy.
Requests for any euro pairs? Let me know in comments!
Note
Okay guys, it has been a while for this update but it seems the LTC is in its C wave correcting to the target levels I set before.Trade closed: target reached
I have to work on my timing but, man it hits the target perfectly on the fib 0.618Trade closed: target reached
Be wary for another drop though. I do not rule out for LTC to hit the Fib 0.786 which goes well with the 17 January low as resistance.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.