Bull Flag?
Updated
We have seen some great growth the last days, To see more stable growth we should have a retrace before moving up again. This will make the next move up more stable.
On the 1 hr time frame we can see a Bull flag forming with a target of around 42.
Of course we could see the flag fall and the formation of a Head and Shoulder pattern form. We did have a H&S form before the weekend and it failed as I predicted in my last post (yea a shock to me as well, the prediction that is). So a second has started to form something I have seen before, the first fails a second , third etc form.
So long term we look to have formed a double bottom and we have broken the Blue down trend line. this is a great chance to go long I think, and see growth to my first long target around 63.
We have seen the price retraced over 75% and falling volume, with most trades focused on BTC little has been said about LTC, what has been said is that LTC will fail and/or fall to 12. But the last few days we have seen an increase of around 16% and we broke the downward pressure of the Bear Channel.
So what does the LTC indicators say ? Do they confirm a Reversal?
LMacd has flipped bullish on one day and we can see it has started to turn up ward on the one week chart, Longs are starting to accumulate more and we see that we are above the level of 48 on the RSI
Again im a Noob and have loads to learn. This is not road map for you to run off and take what i say as GOLD.
Please help and encourage me and give me a like. Its what I look for when I publish these posts.
Wolf - Always tip your Barber, he works hard for what little he gets.
On the 1 hr time frame we can see a Bull flag forming with a target of around 42.
Of course we could see the flag fall and the formation of a Head and Shoulder pattern form. We did have a H&S form before the weekend and it failed as I predicted in my last post (yea a shock to me as well, the prediction that is). So a second has started to form something I have seen before, the first fails a second , third etc form.
So long term we look to have formed a double bottom and we have broken the Blue down trend line. this is a great chance to go long I think, and see growth to my first long target around 63.
We have seen the price retraced over 75% and falling volume, with most trades focused on BTC little has been said about LTC, what has been said is that LTC will fail and/or fall to 12. But the last few days we have seen an increase of around 16% and we broke the downward pressure of the Bear Channel.
So what does the LTC indicators say ? Do they confirm a Reversal?
LMacd has flipped bullish on one day and we can see it has started to turn up ward on the one week chart, Longs are starting to accumulate more and we see that we are above the level of 48 on the RSI
Again im a Noob and have loads to learn. This is not road map for you to run off and take what i say as GOLD.
Please help and encourage me and give me a like. Its what I look for when I publish these posts.
Wolf - Always tip your Barber, he works hard for what little he gets.
Trade closed: target reached
Well would you look at that right on target, how about those apples. Not bad for a noob.
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