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Litecoin (LTC) Reached At The End Of Triangle For Big Move SoonHey friends hope you are well and welcome to the new update on Litecoin. In my previous article we have seen that the LTC formed a bullish reversal BAT pattern and entered in the potential reversal zone. Now the priceline is moved up from the potential reversal zone and it has produced more than 12% rally so far. The priceline is bounced from the support of the channel: Since 16 July the priceline of LTC was moving sideways at the support of an up channel. After starting the bullish move from the potential reversal zone of BAT pattern the priceline has also bounced from the support of this up channel and likely to move up to the resistance of this channel that is almost at $50. If we switch to the weekly chart then it can be seen that the price action is moving in a very big descending triangle and it is being rejected by the resistance of this pattern since Feb 2018. After being rejected in the month of Feb 2020 the price action has again bounced from the support of this triangle and moving sideways. If we take a closer look on the chart after placing the volume profile indicator then the price action is moving around a point of control of volume profile. Now if it will be continuously moving around this point of control level then priceline of Litecoin can leave the triangle without breaking out or breaking down. However, after leaving the triangle priceline of LTC can use the resistance of the triangle as support as it will be above the resistance level of this triangle. And after successful re-test it can start a big upward move. Conclusion: On the daily chart the price action has moved up from the potential reversal zone of a harmonic pattern and also took bounce from the support of an up channel. Therefore there are more chances that the priceline of Litecoin will breakout the resistance rather to break down the support. However, we can use the support of the up channel on daily chart as stop loss because if it will be broken down then the price action can move more down to re-test the support of the triangle that has been formed on the weekly chart and that support is at $33.5.
COINBASE:LTCUSDLong
by moon333
LTCUSD has bounced from the supportHey guys and gals hope you are doing well and welcome to the new update on Litecoin. In my previous post I was expecting that the price action has completed the final leg of bullish BAT pattern. But the final leg retraced little bit more down up to 1.281 retracement level and changed its pattern from BAT to bullish Crab pattern. After entering in the potential reversal zone pirceline moved up by 15%. Previouse post: Current Crab move: Finally priceline is moving up from the support of channel: The priceline of Litecoin has also formed in up channel after the mid of March 2020. And since 26th of June the priceline was moving at the support. Now finally the price action has started upward move and likely to make another attempt for the break out. Descending triangle and volume profile: If we switch to the long-term weekly chart then LTC coin is also moving in a descending triangle. After taking bounce from the support on 9th of March 2020 the price action is moving at the centre of this triangle. After placing the volume profile on the complete price action moving within descending triangle we can get the reason why the price action is moving at this level. And it can be clearly observed that the point of control of the volume profile is at this level. Therefore the priceline is moving around this point of control. However, if we watch the trader’s interest as per volume profile then it is at $85. Therefore it will be easy for the priceline to move up to this level. And in order to reach at this level the price action will need to breakout the resistance of this triangle. Conclusion: As the price action has already bounced from the support of the descending triangle and also has taken bullish divergence from the potential reversal zone of Crab pattern. Therefore we can expect that the priceline of Litecoin can make further upward move to reach at least up to the resistance of the triangle. However, we should set our stop loss point at the support of an up channel that is formed on the daily chart. Because if it will be broken down then priceline can start a downward rally.
COINBASE:LTCUSD
by moon333
1
Litecoin 12000%??? | LTC Price Analysis 2020-2021Hi guys and gals and welcome to the new update on Litecoin. The LTC is moving very well between the different patterns and we will talk about those moves and we will also discuss the different indicators and the moving averages as well. Up channel and EMAs Like every top altcoin the litecoin also has formed an up channel. And sometimes it is moving above the exponential moving averagea 10 and 21 and sometime it was moving sideways with these EMAs. At this time the price action has almost broken down the EMA 10 and 21 and likely to have a bounce from the support of the channel: The different harmonic moves within the channel: Price action of Litecoin is forming the different harmonic moves with the continuation within this up channel. And every time when it enters in the potential reversal zone of any pattern it takes powerful bullish divergence successfully. First of all the price action formed a bearish Butterfly move then it formed bullish BAT pattern. After the successful formation of BAT pattern it completed the formation of bullish cypher and now it has completed the formation of another bullish BATT pattern and entered in the potential zone of this BAT. This PRZ level or buying zone starts from $43.51 up to $. 67. From here LTC can again take the powerful bullish divergence. However we should set the maximum extent of this potential reversal zone as our stop loss. Because if this PRZ level will be broken down then the price action may move more down to form a bullish Crab. Simple moving averages on daily chart: On the daily chart the 50 simple moving average has formed a bull cross with the 100 simple moving average. But the price action is still moving down and at this time it is having the support of 100 SMA. If the 50 simple moving average will form the golden cross with 200 simple moving average then the price action can move more up restart an another bullish rally. Because golden cross between 50 and 200 SMAs is considered as a very strong buying signal among the trader's community. Simple moving averages on weekly chart: If we watch the simple moving averages with the time period of 50 and 100 on the long term weekly chart then it can be clearly seen that when back in 2016 the 50 SMA crossed up the 100 simple moving average then it leaded the price action to turn very strong parabolic bullish that produced more than 12000% rally. This time again second time in the history of LTC the 50 simple moving average again formed a bull cross with 100 simple moving average on 3rd Feb 2020. But there was a big difference between the previous bull cross and current bull cross, because the previous bull cross of 50 and 100 SMAs was formed below the candlesticks and that is very strong bullish signal but on the other hand the current bull cross between 50 and 100 SMAs was formed above the price action. Therefore even though this golden cross pulled the price action up but at the same time it was working as a resistance for the priceline. And the price action could not breakout this resistance level of the moving averages and moved down. Simple moving averages on monthly chart: For any big move I am looking at simple moving averages of monthly chart. Below you can notice I have placed two simple moving averages with the time period of 7 and second is with the time period of 50. The 7 simple moving average is very significant and has very importance role to produce any big move. On the below chart you can observe that back in Jan 2017 when the 7 SMA crossed down the priceline the it produced more than 12000% bullish move. Then again in March 2019 the 7 moving average crossed down candlesticks then it produced more than 274% bullish rally. Now at this time the 7 moving averages is very close to the candlestick even it is touching the upper wick of the candlestick and showing the tendency to move down again. this time the 7 MA is already in bear cross with 50 simple moving average. Once the 7 SMA will again cross down the price action and start lifting the priceline upward then it will also form a bull cross with 50 simple moving average as well. And that will lead to a very powerful long term bullish move. Conclusion: The price action is already in the potential reversal zone of bullish BAT and has the good support of 100 simple moving average. If the seven moving average on the monthly chart will provide a support to the price action then we can soon witness a very powerful bullish move.
BITFINEX:LTCUSDLong
by moon333
LTCUSD forming bullish Shark | A good long opportunity aheadFormation of new Shark pattern: On short term hourly chart the price action of Litecoin is forming bullish harmonic Shark pattern and soon it will be entered in potential reversal zone. Buying And Sell Targets: The buying and sell targets according to harmonic Shark pattern should be: Buy between: $41.14 to $40.69 Sell between: $41.66 to $42.70 Stop Loss: The potential reversal zone area which is up to $40.69 can be used as stop loss in case of complete candle sticks closes below this level. Possible profit and loss ratio: As per above targets this trade has the profit possibility of 4.93% and as per above mentioned stop loss, the loss possibility is 1.1%. Note: This idea is education purpose only and not intended to be investment advice, please seek a duly licensed professional and do you own research before any investment.
COINBASE:LTCUSDLong
by moon333
2
LTC ANALYSIS: LONG ON THE BREAKOUT!LTC ANALYSIS: LTC finally broke out of the triangle formation in a bullish direction. The volume is beginning to pick up as well as the 50 crossing over the 100MA. The current long zone is inside the range of $37-39. Future take profit targets are T1 at $40.10, T2 at $42.15, T3 at $44.90, and lastly T4 at $47.60. The ATR has plenty of room for growth, but RSI is extending into oversold and could look for a short term pullback, which would be a buying opportunity. Daily chart has plenty to grow. I recommend closing any long position before reaching into the daily resistance block near the $50 range. Possible Entries: $37-39
KRAKEN:LTCUSDLong
by altchicasignals
2
LTC ANALYSIS: CHANNEL BREAKDOWNLTC/USD ANALYSIS: LTC was trending inside of an upward channel before breaking down. Upon that break, LTC re-attempted the channel and was rejected. I expect a further dip before the next wave up. The 100MA is currently holding, but should break down and follow through to T1 at 37.70. Following that is T2 at 36.40 and T3 at 35.55. The green box represents a temporary support, and a double bottom should this hold. If this also breaks down the next line of major support is further below at ~29.00. Possible Short Entries: 39.40-40.60
BITSTAMP:LTCUSDShort
by altchicasignals
1
LTCUSD has completed bullish setup for big bullish rallyA powerful bullish signal 2nd time appeared in history of LTC: In June 2016 there was first time in the history of Litecoin the 50 simple moving average crossed up the 100 simple moving average on weekly chart. And this golden cross produced really very powerful bullish rally upto 8000%. This year in Feb 2020 second time in the history we have received the same strong bullish signals that the 50 SMA has formed the golden cross with 100 simple moving average but there is some difference between the both golden crosses. When the 50 simple moving average formed the golden cross with 100 SMA in 2016 at that time this cross was formed beneath the price action therefore the candlesticks did not have the resistance of 50 and 100 simple moving averages above them. But this time the golden cross has been formed above the candlestick therefore we the priceline had a very strong resistance of these two moving averages and eventually the price action could not break out this resistance level and dropped down again. But there is a very strong positive sign that so far the 50 moving average did not form a death cross with the 100 simple moving average and both simple moving averages are moving sideways. But if the 50 SMA will again form a death cross with 100 simple moving average then it cannot produce very strong bearish trend because the distance between the both moving averages is very low. If 50 SMA would be coming from the long distance and form the death cross with the 100 simple moving average then it could produce very disasters bearish rally. In 2016 the golden cross formed beneath the candlesticks Current golden cross formed above the candlesticks and working as resistance Second strong bullish signal: There is another very strong bullish signal is appeared on very long term monthly chart. And that is the priceline of Lite Coin is hitting at 50 simple moving average support second time in the history of LTC. Even though this month we have is very strong long bearish candlestick but if we see the momentum indicator then it is still turning bullish and ignoring this bearish trend. And the stochastic has given bull cross from very close to oversold zone area. Before this the price action has touched the 50 simple moving average on this monthly chart in December 2018 and after that we have witnessed a very strong bullish rally up to 563%. Therefore if price action will be able to cross up the resistance of 50 and 100 simple moving averages on weekly chart then we can witness same kind of bullish rally again. A big descending triangle: Now I am switching back to the weekly chart. And here we can see that the price line of LTC is moving in a descending triangle. The price action was entered in this triangle on May 2017 and at this time we can observe that the price line has reached very close to the support of this triangle and moving up now. If we more closely observe the priceline then it can be clearly seen that this time the priceline is not able to hit at the support even though it was moved very close to the support. And the reason is that when the priceline had hit the support in the past at that time the Bollinger bands was also at the support of the triangle but at this time the bollinger bands is above the triangle and there is distance between the bollinger bands and the triangle support. Therefore the bollinger bands has stopped the price action to reach up to the support. I've also placed the volume profile on the complete price action moving within this triangle and as a result we can see that the trader’s interest is up to the support and that is bit critical but the point of control of this volume profile is at $61.5. Therefore tere are strong chances that soon the priceline will be pulled back to the POC level of the volume profile. After that there are also chances that priceline will again make another attempt to break out the resistance of the triangle. We can also see that at this time the triangle is quite squeezed and the movement of the price line is also getting quite narrowed and this is the decision making for the Litecoin’s priceline whether it has to break down or break out. Formation of harmonic Crab a bullish reversal signal: If we switch to the smaller time period 2 day chart then it can be clearly examined that at the support of this descending triangle the priceline has formed a bullish Crab pattern. The priceline has just hit the spike in the potential reversal zone of this Crab pattern and turned back and entered in the Fibonacci projection area of A to D leg between 0.382 to 0.786 Fib projection. But I am expecting that this pattern will be helpful for the price line to move up even the priceline can cross up the 0.786 Fibonacci protection level. And once it will be able to cross up the 0.786 Fib projection then it can use this level as support and make a powerful attempt to have a break out from the descending triangle’s resistance. Conclusion: All indicators chart parent and signals are in favour of bulls rather bears. Therefore there are less chances that priceline will break down the support of the descending triangle. So we should be ready for big profit gains. But the support of triangle should be used as stop loss because if this support will be broken down then there can be power bearish move. Note: This idea is education purpose only and not intended to be investment advise, please seek a duly licensed professional and do you own research before any investment.
COINBASE:LTCUSDLong
by moon333
6
LTCUSD forming bullish Shark | Upto 12% move aheadHi fox hope you are well, here I have found another profit potential trading idea for you and this time on 6 hour chart the Litecoin (LTC) is forming bullish Shark pattern and soon it will be entered in potential reversal zone to move up. The Pattern: After initial leg (X to A) the A to B leg is retraced between 0.382 to 0.618 Fibonacci and then B to C leg is projected between 1.13 to 1.618 of A to B Fibonacci projection area and last leg (C to D) should be retraced between 0.886 to 1.13 Fibonacci then the priceline will be ready to take bullish or upwards move. Buying And Sell Targets: The buying and sell targets according to harmonic Shark pattern should be: Buy between: $56.78 to $55.22 Sell between: $58.56 to $62.15 Stop Loss: The potential reversal zone area which is up to to $55.22 can be used as stop loss in case of complete candle stick closes below this level.
COINBASE:LTCUSDLong
by moon333
2