Bottom is either in or very close. Watch for price to be above SMMA 50 on the 1hr chart for reversal confirmation, along with price getting above the 1/2 fan.
Note
SMMA 50 acts as support once price is above it until it doesn't, then it acts as resistance. Note
New 2W has opened. Note
anything above 142.66 will keep the next 2 weeks green. Now we wait for confirmation. This 2 week candle goes into the new month so it has some significance. Note
progressed nicely overnight, SMMA 50 is getting closer as is the 1/2 fanNote
Weekly and 2 Week intervals look good, a V shape is starting to form in my opinion (obviously needs some time for confirmation)Note
How a V shaped recover would look like based of 2017 patternNote
Or how it would look like using BTC/4, there are a few more ways to draw it but this is what I'll be watching the next 2 weeks, chart will give a lot of clarity by first week of JuneNote
The magnitude of the negative volatility experienced the past 2 weeks will be translated into positive volatility once break out happens from Gann Fans. That 291 dollar drop is going to allow for a 291+ dollar rise.Note
can't make an omelet without breaking a few eggsNote
actually you can probably, using some soy vegan thing, but vegans aren't human.Note
4hr MACD bullish, PSAR bullish, all it needs to do is get above MA20 and a pump to 200 (4hr upper bbands) will commence at the same time price will be above SMMA 50 1hr.Note
bringing in the reversal confirmation, afterwards price just has to hover over it or range around for indicators on the daily. 3d intervals to get back to bull mode.Note
or sake of visualization here. Note
i'll give the chart a few days before posting the next update. still the thing to watch here is for price to get above 1hr SMMA50, and 1/2 fan for full reversal. remember it takes 2 weeks to fill the 2W candle.Note
One last quick update b/c it is important to observe. 12h PSAR bullish, MACD setting up to turn bull. really the 4hr and 1hr trends are going to translate to 12hr and then the daily then 3d all of the sudden its been 2 weeks and price has recoveredOkay now I gone until the Wednesday stream.
Note
Alright so 1/2 got broken, next Gann resistance to break is the 1/1 fan, price is above/ranging near SMMA 50 on the 1hr chart. Hinting that the moving average is becoming support once again. Revisit of the lows is of course always possible but trend reversal is looking more and more likely as the price continues to climb higher. For the record BTC is doing something similar, a pump back to 50k puts LTC back to 300s.Note
Expecting upward volatility once price is above ~196-200 b/c doing so turns the quarterly green once again.Note
Also a full moon is near, LTC has been bottoming on/near full moons. You know what they say, billionaires use astrology. Note
Price gotten back above SMMA50 and the area around it has now been turned back into support. Now price will wait for new high intervals before eventually breaking out of all Gann fans and going for a new ATH. SMMA50 region should continue to hold, as price progresses. Note
Note
Bottom is still in even with a retest of the lows, all these bears are once again coming out of the woods. They'll get what's coming to them as the new weekly and monthly open. Tbh traders to me are traitors they don't see the value they just come for the volatility. Good thing is it's only a matter of time before they get caught in the wrong end of the trade.Note
Note
Note
This 12hr MACD bull cross is going to translate to those daily/3d intervals posted above. Note
On the 12hr, MACD bullish, PSAR bullish, MA20 is the only thing to break to continue pumping should happen within next 5-12 days for litecoin. BTC is on a similar situation, MACD bullish but PSAR is bearish, soo flipping PSAR along with BTC price getting above MA20 on the 12hr will be further confirmation.
Note
Progress of the 12hr, MACD, BB, SAR,MACD bullish, PSAR bullish, only confirmation left is for price to get above MA20 on the 12hr chart
2017 vs 2021 this time of the year
Note
Continued... the 12hr momentum indicator MACD has translated to the daily about 4 days ago making, the momentum on the daily bullish once again.the 2D chart momo is next.
then it'll be the 3D chart.
should take about 10ish days which happen to line up with the dates from 2017 vs 2021. ratio wise there are also hints there, ei. if it doesn't break down or go lower it'll break out once ready,
Note
Price is now testing the 1/1 Gann Fan break of it should provide momo to the upside, break of all fans = new all time high. maximum patience.Note
1/1 has been broken. 2/1 is next. Note
Progress. Note
Price is testing Weekly RSI30 is now below 50, now they have to keep below 50 if they want a bear market.
Note
Doubt they can keep RSI30 below 50, the week has 6 days left. But definitely painful for newbies as it should be. Trust the protocol.Note
IN IT FOR THE TECHNote
The corrective period from May-June will be noted in crypto history as the most forced dump ever. July or August will open green due to how ugly June closes, and that'll be the end of this cliff fall. New all time high by the end of Quarter 4.Note
The price will come out of this stronger than ever b/c now normies are selling due to fear, and it's these people that would take momentum away to the new ATH.Note
Weekly RSI 30 at 49.9 when it is above 50 price returns to parabolic uptrend. Note
Just hodl my chads. trust the math.
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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.