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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
LITECOIN cYpHeRLong term bearish cypher, easy profits to be made in the short term with a golden cross present on the weekly chart. This golden cross has proven to be successful on BTCUSD so why wouldn't it be on LTC? Best to go long. Included a fractal for the cypher not sure how accurate it will be lets just see how it plays out :P. I still believe ERC-20 Tokens and Ethereum will outperform BTC and LTC in throughout MARCH. Very nice range for trading. Potential for a lot of movement upwards.
COINBASE:LTCUSDLong
by Bixley
LTCUSD formed bullish BAT | Upto 42% MoveHi friends hope you are well, here I have found another profit potential trading idea for you and this time I have found a harmonic move by Litecoin. The Priceline of LTC has formed bullish BAT pattern and entered in potential reversal zone and ready for bullish reversal soon. Let’s have a look on the LTC move: After initial leg (X to A) the A to B leg is retraced between 0.382 to 0.50 Fibonacci and then B to C leg is projected between 0.382 to 0.886 of A to B Fibonacci projection area and last leg (C to D) is retraced between 0.786 to 0.886 Fibonacci and now the price action is moving in potential reversal zone of this bullish BAT and now we can expect bullish divergence at any time which will lead the priceline between 0.382 to 0.786 Fibonacci projection of A to D leg , but if after this bullish divergence the candles sticks will be closed above the 0.786 Fibonacci projection area of A to D leg then it can also lead to the long term bullish move. We also have a 100 simple moving average in PRZ level that can be a strong support to push the price action up to 42%. Buying And Sell Targets: The buying and sell targets according to harmonic BAT pattern should be: Buy between: $57.85 to $54.63 Sell between: $65.99 to $78.08 Stop Loss: The potential reversal zone area which is up to $54.63 can be used as stop loss in case of complete candle stick closes below this level.
COINBASE:LTCUSDLong
by moon333
1
LTCUSD formed bullish Shark | A good long opportunityPriceline of world's 6th largest cryptocurrency Lite Coin (LTC) has formed bullish Shark pattern and entered in potential reversal zone. This potential reversal zone should be used as stop loss in case of complete candle stick closes below this zone. Let’s have a look on the dimensions of LTC price action's moves: 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 leg's Fibonacci projection (there is little bit difference which i have ignored coz all other legs are driven perfectly as required for bullish Shark) and final (C to D) leg is retraced between 0.886 to 1.13 Fibonacci as required for perfect perfect bullish Shark and now we are entered in potential reversal zone of this bullish Shark pattern, now we can expect bullish divergence at any time which will lead the priceline between 0.382 to 0.786 Fibonacci projection of C to D leg, but after this bullish divergence if the candles sticks will be closed above 0.786 Fibonacci levels then it can also lead to the long term bullish move. As per Fibonacci sequence method we can set our targets as below for mid term trade: Buy between: $42.25 to $41.84 Sell between: $42.67 to $43.55 So this very short term 2 hr based chart trade is a good long opportunity for Lite Coin's day traders. Regards, Atif Akbar (moon333) The harmonic moves analysis involves hours of hard work and determination however the success of harmonic trading in fiat and cryptocurrencies is around 80% therefore it is always important that you follow any stop loss strategy while trading harmonic patterns I have also shared a stop loss idea in this article, the information in this article is for educational purpose only this is not intended to be investment advice, I have tried my best to catch the harmonic moves as per predefined classical harmonic bullish Shark pattern if you find any flaw or you have any suggestion feel free to share with me in comments section.
COINBASE:LTCUSDLong
by moon333
2
Hold 37-33 Dollar area or down for a double bottom?Ltc has had a nice bounce of the 0.5 Fib level of the entire structure.. but then got rejected by the 0.65 Fib level of the impulse that started in December of last year. The support looks strong around the 37-33 dollar range, holding above the 0.5 Fib, the 1:1 extension of the first big impulse in 2017, the 0.786 Fib of the latest big impulse and the 1.65 fib channel of the pitchfork. If we don't hold we will probably test for a double bottom around 23 dollar.
COINBASE:LTCUSD
by Fomonacci
LTCUSD - Broadening Bottom (Megaphone) Pattern - Target $75 Price Target: B - D line (Approx $73) Stop: Below the A - C - E line (Approx $42) "Key aspects of the Broadening Bottom Pattern: Points A, C and E should all be successively lower. That is to say, point C should be lower than point A, and point E should be lower than point C. Point D should be higher than point B. After the final decline (marked by point E) look for price to rise significantly. It may be a good idea to wait for price to rise below resistance created by the BD Line for conformation." www.tradingview.com An Example of Broadening Bottom Pattern on AMD graph: thepatternsite.com
BITSTAMP:LTCUSDLong
by Bayraktaro
5