Pattern: Channel Down on 1D. Signal: Bullish as the pattern broke upwards (Lower High line) on an RSI bullish divergence. Target: 110.00 - 120.00.
Death crosses do matter, especially when they are about to happen in very important timeframes such as the 1D. They happen all the time on lower timeframes and they do influence the rhythm of price as they cross back and forth. What we are looking at here is an almost certain death cross by tomorrow on the daily, which you can't ignore, simple put what this means...
LTC just experienced the Halving event. The current cycle is repeating methodically the 2015 sequence and so far we have reached the point where the 1D MA200 is supporting. This MA period previously held throughout 2015 - early 2017 up until Litecoin initiated its super strong rise to the mid $300s peak. There is no reason to expect something different this time....
Litecoin has continued its crazy rise since the December 2018 bottom and only recently made the Golden Cross (MA200/50) which paved the way for last week's $98 Top. You can't say I didn't warn you about this super aggressive rise in February when LTC was trading at $49 as seen below: Now, almost 100% higher it may be a good idea to take profit. There are...
Pattern: Channel Up on 1D. Signal: Bullish after the 1M Channel Down broke to the upside. Target: 67.000 (the next level of resistance).
I feel that the chart is clear enough to explain the idea behind it. Litecoin's two bear markets (2014-2015 and 2018-2019) share a similar pattern behavior. A Buy Signal occurred in May 2015 after the bottom was made in January and a support was formed. The price broke a Lower High trend line and rallied nearly +700%. The duration from the bottom to the rally's...