LITECOIN:
Litecoin has known a serious uptrend, and I don't think it ended just yet.
LTCUSD even made a new all time high on 29 november. My belief is that new money is coming in through coinbase, because of their very user-friendly interface, this new money came in because of the 
BTCUSD hitting 10K news, quickly accelerating the FOMO, followed by massive FUD. You can clearly see that all alts followed the bitcoin correction to some point (not 
DASHUSD), but this won't rest, Litecoin has been proving itself lately. The lightening swaps are very promising and highly increase the long term potential of Litecoin. The last days have been a ride, tremendous volatility, loads of panic selling, blood everywhere. Now, after rain comes sunshine and after pain comes ease.
What I see:LTCUSD is forming a ABC correction, with point A in the 82-ish zone, point B forming now (be careful for a possible bull trap), and point C to forming in the 77-78ish zone. Litecoin's fib corrected to it's golden retracement (0.618) which was a resistance for a while too, could definitely become a good support now (76.5 USD). I wouldn't buy in now (if you're really wanting too) if it doesn't break that 0.786 big fib level, but that's just my feeling. I expect that Litecoin will correct further to 77 USD/LTC, which would definitely be a good long entry point. When I look at the Stoch RSI on the 2H timeframe, I have a strong feeling it's overbought at point B. Keep an eye on that bearish trend line too.
Setup:
#ThisIsNotFinancialAdvice.
Litecoin has known a serious uptrend, and I don't think it ended just yet.
LTCUSD even made a new all time high on 29 november. My belief is that new money is coming in through coinbase, because of their very user-friendly interface, this new money came in because of the BTCUSD hitting 10K news, quickly accelerating the FOMO, followed by massive FUD. You can clearly see that all alts followed the bitcoin correction to some point (not DASHUSD), but this won't rest, Litecoin has been proving itself lately. The lightening swaps are very promising and highly increase the long term potential of Litecoin. The last days have been a ride, tremendous volatility, loads of panic selling, blood everywhere. Now, after rain comes sunshine and after pain comes ease.What I see:
LTCUSD is forming a ABC correction, with point A in the 82-ish zone, point B forming now (be careful for a possible bull trap), and point C to forming in the 77-78ish zone. Litecoin's fib corrected to it's golden retracement (0.618) which was a resistance for a while too, could definitely become a good support now (76.5 USD). I wouldn't buy in now (if you're really wanting too) if it doesn't break that 0.786 big fib level, but that's just my feeling. I expect that Litecoin will correct further to 77 USD/LTC, which would definitely be a good long entry point. When I look at the Stoch RSI on the 2H timeframe, I have a strong feeling it's overbought at point B. Keep an eye on that bearish trend line too.Setup:
- Buy limit: 77 USD/LTC
- Stop loss: 73 USD/LTC
- Target: 130 USD/LTC
#ThisIsNotFinancialAdvice.
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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.
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.