LTCUSD 1W Outlook $170 TargetLooking at the chart of Litecoin on the weekly timeframe, we can see that it's in a bullish trend that just broke out of a 2-year, almost 3 year, downtrend. The start of the downtrend was created at $171 with the second point being the swing high of the summer bull run in 2019. Since June 2019, Litecoin hasn't reached a higher high than that with the coin failing to even break above $80 until this week.
To get a glimpse of how strong this $80 level is, Litecoin tried in early 2020 to break $80 but got rejected all the way down to $25, then this month it tried 4 times to break through and couldn't until this week.
Now LItecoin not only broke through $80 but it broke through $95 too.
This does look like a big wick up on the weekly, but if we can see a wekly close of Litecoin above $95 that would be huge.
Moving upwards, the first level of resistance is $114 although that isn't the real resistance target. The $136 start of the downtrend and second point of the trendline is the real resistance level that Litecoin has to break in order to even think about hitting its previous all time high price.
Once Litecoin breaks through $136, the next valley created is $171. The $171 - $183 range for Litecoin is the last major level of resistance before it reaches its previous all time high prices.
Cheers
kyer
Litcoin
LTC (Y20.P5.E1).Macro.ForecastRef. C.chart
Hi All,
Based on a the structure and the current price action which broke the lead in trend line , this then becomes a bullish chart.
We can observe the structure and how the fib levels resonate with it. I have 2 targets for LTC.
1st Target, being a double top and it has confluence with the 0.5 fib level and on the 1.618 fib extension, from $80.5 to $86.5
2nd Target is based on the inverted barr point in the structure which correlates to the 0.382 fib level. Price from $99 to $013
LTC has a nice trend but we should get a retrace soon after hitting its mark.
Lets see how this above forecast goes with the price action.
Note: I'm sure the Paypal announcement with LTC has something to do with it.
Cheers,
S.SAri
LTCUSDTLTCUSDT brokedown below the double top reversal pattern as expected from my previous analysis. The market retraced and is currently testing 0.618 fibonacci retracement level. Potential SELL re-entry at breakdown of pullback trendline support ⬇️. RSI trendline breakdown could be a bearish confirmation 🔽.
LTCUSDTLTCUSDT brokeout below the trendline support as expected from my previous analysis . The market is printing the double top reversal pattern. Breakout below the neckline support could be a bearish signal ⬇️ ( retest of flip support + fibonacci retracement levels). RSI is also printing a bearish divergence signal 🔽.
BEST TIME TO INVEST ON LTC!!!!!!!😍😚 💵 🤑🤑As you can see, LTC, after longterm rest, is ready to move up, and there is a regular divergence (RD+)between wave a and c; the best way for entering the trade is using a trigger, and I show you on the chart the excellent trigger for this circumstance is breaking the trendline.
The risk to reward ratio is impressive.
BITCOIN Y EL MUNDO CRIPTO EN MOMENTO DE DECISIONNuestra visión para el mundo cripto fue bajista nuestra posición en 2017, en 2019 volvimos a una visión bullish, luego de algunas dudas con lo de marzo, seguimos favoreciendo escenario bullish, pero el mercado decide si corrige desde acá hace nuevos máximos y corrige pero el gran potencial alcista se mantiene, si corrige es para acumular..