Litecoin! Sideways? Or Retest of $160?Litecoin has been a little stagnant lately but is respecting its intermediate upward channel. It looks to be trading within a range in the short term which could continue sideways, breaking the upward channel. If we do start to move upward a retest of the $160 level is certainly possible if we don't get rejected by the $148 level. If we do break $160 and the channel continues we could hit $200 by August. That being said we are showing divergence with RSI so a downward move is always possible.
Things that need to line up before upward movement is more likely:
RSI needs to get back above 50 level
Parabolic SAR needs to print buy signal
SMI Ergodic Indicator should print cross
We are close to those requirements right now but will wait for confirmation.
Litecoinusd
Litecoin - Storing Energy for a Big Move? Litecoin (LTC) has managed to hold the 55 ema level for several days and as you can see from the triangle pattern forming, LTC seems to be storing energy for a move (either to the upside or downside).
On the weekly chart LTC has fallen back to the 9 ema, which has historically acted as the first line for major support, during the 2017 bull run LTC fell to the 9 ema and during more severe pullbacks, the 20 ma, a breach of the 20 ma signified the end of the bull run and a switch to a bear market. Needless to say these weekly levels are must hold points.
Rest assured i do not think a bearish reversal is on the cards, however bear in mind that a fall to the 20 ma on the weekly would entail a retracement back to the $90-$95 USD level.
The more likely outcome is that LTC could potential fall back to the lower trend line, or even slightly below, before a bounce and a continued rally to the next Fib level around the $170 USD mark. This pullback pattern has occurred before (circled area).
Keep an eye on LTC, as the chart is suggesting that a major move is on the cards and my guess would be that a slight dip to the trend line, followed by a move higher is more likely.
LTC/USD: Not a far Fall from SupportAbove, it can be seen that there are three trendlines which I have drawn to represent the extreme increase in the rise of price within the short period. The longer term trendlines which is only relatively longer is represented with the two green lines and the green box represents a large area of support for litecoin (support that held against the drop from 350 USD). Together the orange descending trendline and the green ascending trendline form a "symmetrical" triangle, however, the downward slope is dominating the price action--which is in my opinion bullish. In purple, there is still the rising channel from the previous analysis alongside the diverging channel which has played out.
Currently, it can be noted that there is a descending trendline which can be seen in orange, if the current trendline does not hold, then it is likely that it will fall into or beyond support, around the green box, I would expect accumulation or distribution to occur. It is also highly possible that once litecoin drops in price, then it is highly possible that it activates buy orders and the price springs up aggressively (this would be very bullish and it is denoted by the blue line). The orange line would be a very bearish situation because it would break the orange trendline with weakness and it would break the green trendline afterwards. Another bullish outcome which I didn't add is if price breaks out at the apex of the symmetrical triangle.
The RSI is having some difficulty breaking into the channel, however, it did bounce off of 40, so it is still within the bullish range on the daily.
I will maintain my bearish stance with litecoin, however, there are extremely bullish opportunities presenting itself within the chart.
Previous Analysis:
Litecoin LTCUSD UPDATE Trendchange to Short 6:00 p.m. 1 HR Chart#LTCUSD #Litecoin #Bitcoin #Ethereum #Rekotrade
Hello to all watching my charts
I just write these words here and same time LTCUSD Litecoin
has just fall out of my long channel in blue and sit on the last support line i have
drawn in black.
I daubt that the pair will recover soon and see a 60 to 40 chance
of falling further down
In best case we will have a sideways turn staying in my bluechannel which is
little bit long, but f you check the angle, these is very very weak
So be cautious with longs, i suggest NOT to buy on dips here
as we have lower lows and lower highs which in my oppionion
is a clear sign of short.
At the end, if it is fallen down to my purple arrow it is short shure
Good trades
If you want to support my work and my trade, please like them..
Renkotrade
Litecoin LTCUSD NEUTRAL 1 HR Chart possible trendchange to Long#LTCUSD #BTCUSD #ETHUSD
Hello to all watching my charts.
Lets today have a new closer look to Litecoin LTCUSD
2 things are to mention
1. We are with both channels again in a short situation
2. At the moment i write this down we have a chance for a new setup
to long IF:
At first resistance 122.60 will be broken
(first resistance from yesterday post has been taken out
118.00 BUT than we unfortunatley have seen a fall with a lower low)
(my higher black line ) AND of course
we will not see any lower lows in the meanwhile
or in other words
The lower black line must hold.
And the blue trendline long which is little bit broken must be
entered to higher prices again.
I am afraid the last condition will be not set up
and the pair will stay in my short channel to lower prices.
Than next hold would be (low from yesterday) 113.00
and also lows from 28.6. at 112.00
below that we wil nee a nirvana..
Under the line: The Setup is very unclear.
If the pair will start to my blue arrow aerae of course
we wil be in long status again.
Good trades
If you want to support my work and my chaerts, please like them...
Renkotrade
LTCUSD SHORT Till MIN 112.20 or much worst#Renkotrade
Hello to all watching my charts,
In the fall of all crypto currencies there is one crypto which seems to me
one of the worst and so one of the best short trades.
So lets have a look at
Litecoin / USD = LTCUSD
The pair had had found af fine bottom at 112.20 and started an impresssive rally
from this point to nearly 134 which is 20% up !
Than we had seen unfortunately broke of one support after the other.
First 127.50
Second 127.00
Third 125.80
In additon the trendline long brake
(All these breaks to the low i have marked with black lines here)
If now if you will go long , for a trendchange we must see
minimum the 115.00 in 2 days
or thats the opposite scenario , if the last support at 112.00 will break
the pair will be traded much lower in my eyes.
So be carefull with long engagements here,
check the next days and we will have a decision here.
Good trades
If you want to support my woerk and my charts , please like them...
Renkotrade
But than in the fall of all cryptoswe have now a fall below 3 supports
(sown in black in my chart) and after that no botom is to see.
Good Buy Opportunity for LTCHere is my short analysis of the current chart:
1. Price is ranging in between the two trend lines and its at the bottom of the trend line right now
2. Price has just touched 50 day MA and will most likely bounce back up
3. RSI is also at a key support level and most likely to bounce back up because it has acted a key level of resistance and support in the past
4. Stochastic is also at the bottom and turning upwards.
Please let me know if there are some other view points that I might have missed. I'm eager to learn. Hit like if you like my 50 cent. :)
Litecoin/USD: Sudden WeaknessSimilar to Bitcoin, Litecoin did not successful hit its price objective, which was the top of the channel provided in the last analysis. Litecoin did, however, experience a break out from the symmetrical triangle, but it was unsuccessful at pushing through the historical resistance between 142-150 and it experienced extreme rejections from that region.
It can be seen that there is a large diverging channel occurring in the RSI in purple and a small diverging channel in light blue. The channels are coordinated by color, where the larger channel is purple and the smaller one is light blue. I suspect that litecoin will most likely fall out of the purple channel and it will indicate a sign of weakness. It may be in the light blue channel for a while despite the fact that it has fallen out of the corresponding channel in the RSI.
I suspect that litecoin will fall greatly and quickly once it approaches the support of the channel given that there are many indications of weakness, it is possible that this will be the signal that this run is over for the entire crypto community.
Previous Analysis:
Litecoin - Consolidation for the greater goodLet's get right to the chase. This consolidation period is where you should be buying Litecoin in huge bulks. Take a step back and think about how the institutional traders are buying into Litecoin. They are not looking to pump the price, which means they have to buy in areas of consolidation.
Litecoin has been consolidating for the last week, and there is no sign of downward pressure which is going to rock the boat. You also need to remember that Litecoin is a significant stable cryptocurrency for transfers.
Conclusions: Do not worry about the entry price for a longer term hold on Litecoin. Price is currently around $140, and while we are under $150, this is a great time to buy more Litecoin. $137 or below is my current value area for Litecoin, and as we have seen no action over the weekend, I would assume that we have another moon launch coming.
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Litecoin: Important Bullish BreakIn this chart, against USD, Litcoin can be seen in the rising channel, and within that channel there is a symmetrical triangle with a price target of the upper trendline for the channel, 157-160. It is possible that this current move is an upthrust, however, it will be retesting the top of the symmetrical triangle even consolidating there before it makes another drive. If the top of the triangle does not hold as support, it would be an upthrust, and I believe it will be highly likely that it will fall out of the channel if it breaks to the downside. On the daily chart, it can be see that there is a diverging channel in the RSI, however, this just means that litecoin has lost some momentum, in addition, it is highly possible that it will break out of this channel to the upside if this move breaks to the upside.
The RSI is presented here:
LTC long exit strategyBeen riding this entry since $34, the halving pump has meant it could be traded bullishly all the way, i was expecting one final parabolic move to $170-$200 but we cant be too greedy considering the amazing gains its given all the bulls.
LTC has formed an evening star pattern on the daily which is a strong reversal pattern, granted it might just reverse $10-$20 then continue with parabolic moves up, but my current exit strategy is im anticipating a bounce at $121 levels where we made decent resistance previously, im hoping to sell this bounce as soon as it starts to show signs of a dead cat bounce
eg when it bounces from $121 if it starts to stall at $128 that will be my sell signal and the end of a very good long bull run for me.
im also putting a hard SL just below $121 in case there is no bounce and we just have violent drop.
Good luck traders.