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Ltcbtcshort

LTCBTC Downward Channel / Golden RatioHey crypto enthusiasts, Just a simple evaluation of LTCBTC POLONIEX:LTCBTC . Just some things to mention include being within the downward parallel channel (hoping to be pushed out of this support region sometime by now to next month early in June. Since we are at the golden ratio support (0.618), this should be held as a solid support along with the low MACD levels. The golden cross has already occurred, but looking to see what goes after that - possibly another coming up soon since the first divergence wasn’t strong enough. Since alt coins are bound to have their comeback from the extremely pumped BTCUSD as of 21 May 2019. POLONIEX:BTCUSDT . This coin may have a comeback sometime soon. Good luck fellow traders - Joe
Short
by JosephApodaca
LTC nice run, time to short.Short term reversal incoming. PA is lining up well with the indicators too (simple bearish divergence on 1D chart) decreasing volume on this move up. 1 more bump up, into previous support now turned support. I'm closing off my trade at T1, I barely trade but when I do, I go safe. T1 - 0.128 or there abouts. T2 - 0.115 or there abouts. will be following this up with a trailing stop. Ideal entry be around 0.154 - 0.16 My stop aat 0.168 R/R 3.37 at T1 PS, resize the indictaors to better see the graph.
Short
by EnZo
Hurt Litecoin ( LTCBTC ) takes on a painful journey down southHello Friends, Here comes my third and final chart for the day. This is yet another simple yet informative chart for you on the daily frame with explanation of what the chart shows. If you have seen my previous chart on Bitcoin ( BTC ) on daily frame, the path is clearly downward. (Ref: ) We all know, when BTC goes down it takes everything else down with it, a major reason why Litecoin will likely fall down apart from the weakness visible in LTCUSD chart. The LTCBTC chart, however, shows further signs of weakness in medium term (spanned over many weeks) with a death cross of 50 MA and 200 MA and rejection at MA 200 in the first week of June. Classical charting pattern wise, it formed a descending triangle (marked in black). The descending triangle is a bearish formation that usually forms during a downtrend as a continuation pattern. As has been evident in the chart, it has broken down and moving south a day after testing the bottom trend line of the triangle for the third time. As the chart suggests, MA 200 acted as resistance for 12 long days before rejecting the price and a death cross of 50 MA and almighty MA 200 has happened. They are going to act as resistance on the journey up. Price will eventually go down since that is the path of least resistance. Medium term view: Next major support is wayy down at 1.272 rectracement at 0.008866 level and below that at 1.414 level further down at 0.007060. They are the likely destination. It might take many weeks though. Short term view : We are currently seeing a small rally on day candle. It can continue till bottom of the triangle. If that is breached and confirmed, God and BTC willing, a rally till 20 / 50 MA / 786 retrecement can't be ruled out in short term (few days to a couple of weeks max). However, don't take your eyes off from the bear market. Thank you. Feedback welcome.
Short
by esjaees
3
Swing Trading LTC/BTC - Whoops I did it again!If you follow me you know I'm long on LTC. Attempting a small swing trade today, I made a mistake and traded LTC/BTC a bit too early around ranging from .00882 - .00886 ! I saw some bearish divergence but , alas LTC caught an extra push and I missed out. But no worries! We hit the top of the RSI on several LTC/BTC charts today so I'm confident it will come back down. For safety purposes I placed my LTC buy order at .00883, which will put me ahead a negligible amount but I honestly think it will be easy to swoop around .00881 or lower ... It's so hard to predict price action , but the RSI is more telling. At 50 we could go either direction. This will be largely dictated by what the market decides to do as a whole. Also note the loss of RSI strength on the latest move up. Right now LTC/BTC is selling just over .009 so good opportunity to make some swing trades when that RSI inevitably dips. Personally I will be accumulating LTC for a long position. I am not a professional investor or financial advisor, trade with caution!!
Long
by peakindicator
11
A quick short setup for LTCBTCTodays short setup for LTCBTC This is a short term trade based on: Bear Div in RSI, RSI oddly high on the lower timeframes Volume still dead EMA 20,50,VWAP all below current price No real zones of support around this price Lower high pivots Lower timeframe price action 5m-15m supporting a continued dive after current little pullback to the upside 3rd solid Test of 61% fib, all the above supports we break it THE TREND IS YOUR FRIEND. This is a solid setup in my opinion with minimal upside (3.85%) - Stop less is set just above the recent pivot high. Will cover half my short @ 0.012 (+7.5%) then let the rest run - real chance this could free fall...but more likely we just continue to see a bleed out, will probably cover before futures settlement date. Risks: BTC moon run.
Short
by UnknownUnicorn3062951
LTCBTC - ShortHi, Can anyone tell me why you wouldn't short LTCBTC right now? It may well be a slow burn short..but I am struggling for a reason not to put a small short in here & let it run: Bearish because: No pending news until September Volume disgustingly low and falling RSI bearish MACD weak/bearish Volume profile resistance is huge with little to no support to the downside Classic ABC retracement waves formed Bearish descending triangle Fib lines plotted last, line up well with short expectations Heavy EMA 20/50/100 resistance Many other projects with good newsflow incoming - ie Where are people going to invest their capital.. Risks? BTC goes full bullmode, institutional money flows in - all maincoins pump LTC releases some surprise news Trading plan: Entry - 0.01582 Stop - 0.01655 (Risk 4.61%) Target - 0.01366 (Reward 13.65%) 2.96 Risk/Reward ratio This is not financial advice, just my trading plan.
Short
by UnknownUnicorn3062951
1
LTCBTC Short AFTER correction.I'm still bearish on LTC. For those of you who hold LTC and may be underwater... This is actually a fantastic way to hedge against your hold. (If the below plan works, you may BTC to offset the loss of your LTC value.. if it fails.. you recover LTC value due to price rise) Fundamentally: Litepay failed No real news *planned* coinmarketcal.com Other projects with newsflow attracting investor $ / BTC Shorting seems to be the flavour of the month currently... Technically: So first up, I believe we need a correction upwards. I expect this to take several days, best guess would be anything from 4-8, maybe longer. I have highlighted TWO possible entry points ready for the continuation of the downtrend I am expecting. Personally I will enter at the first with a fairly tight stop(will try to update nearer the time), if the stop loss breaks, I will re-assess quickly & update but expect the pink B to be a solid backup plan for continuation of the downtrend currently. Keep in mind this is a plan to enter LTC AFTER it corrects upwards .. so we have a many days of data from now to help re-assess the position as we go. But for now here's my view: T D Sequential almost hit the complete 9 (8) + current daily candle signalling exhaustion of downtrend wave A, ready for correction wave B RSI destroyed, due a reset, look at the last time it was at this level (yellow circles) - we had a nice complex correction over 2 weeks before continuation MACD not really all that helpful currently..but again we have a fair few days ahead of us yet Large gap formed between the price & 20day EMA, further info for a correction. (The 50/100 too but I am not really interested in these currently due to the size of todays red candle) Correction upwards would line up well with the 38.20% fib Volume profile also looking relevant with a high vol in between both possible entry points Risks to consider First off, these risks aren't really risks as we aren't opening a position yet..but still worth consideration for balance. Litecoin news (Historically I don't recall LTC keeping impending news a secret..except for when Charlie Lee sold his entire stack :D) BTC mega bull reversal.. God only knows what that would do to the rest of the market, hell it might even help the LTC bears.. LTC just keeps dumping - though if this is the case we haven't lost anything & we wait for the next correction This is not financial advice.
by UnknownUnicorn3062951