LTCUSD approaching support, potential bounce!LTCUSD is approaching our support at 63.38 (horizontal pullback support, 61.8%, 100% Fibonacci extension, 38.2%, 23.6% Fibonacci retracement) and a strong bounce might occur above this level pushing price up to our major resistance at 71.61 (horizontal pullback resistance, 100% Fibonacci extension, 61.8% Fibonacci retracement).
RSI (55) is approaching support where a bounce above this level might see a corresponding rise in price.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
Ltcusdshort
LTCUSD approaching support, potential bounce!LTCUSD is approaching our first support at 58.71 (horizontal pullback support, 50%, 38.2% Fibonacci retracement, 100% Fibonacci extension) and a strong bounce might occur above this level pushing price up to our major resistance at 64.88 (horizontal swing high resistance, 61.8%, 100% Fibonacci extension).
RSI (34) is approaching its support where a bounce off this level might see a corresponding rise in price.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
LTCUSD approaching resistance, potential drop!LTCUSD is approaching our first resistance at 60.55 (61.8%, 100% Fibonacci extension, 23.6%, 76.4% Fibonacci retracement) where a strong reaction might occur below this level pushing price down to our major support at 56.21 (horizontal swing low support, 61.8% Fibonacci retracement, 61.8% Fibonacci extension).
Stochastic (55,5,3) is also approaching our resistance and a reaction below this level might see a corresponding drop in price.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
LTCUSD approaching resistance, potential drop! LTCUSD is approaching our first resistance at 58.89 (horizontal swing high resistance, 61.8% Fibonacci retracement, 61.8% Fibonacci extension) where a strong drop might occur below this level pushing price down to our major support at 53.67 (horizontal swing low support, 61.8%, 100% Fibonacci extension)
Stochastic (21,5,3) might be seeing a bearish divergence and is approaching resistance where we might see a corresponding drop in price should it react off this level.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
LTCUSD approaching resistance, potential drop! LTCUSD is approaching our first resistance at 58.89 (horizontal swing high resistance, 61.8% Fibonacci retracement) where a strong drop might occur below this level pushing price down to our major support at 53.67 (horizontal swing low support, 61.8%, 100% Fibonacci extension)
Stochastic (34,5,3) might be seeing a bearish divergence and is approaching resistance where we might see a corresponding drop in price should it react off this level.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
Litecoin looking down- no support! Ever since $100 was broken, I think many people knew this would be coming. $75 was broken, and now $60. There was no reason for Litecoin to be worth over $400 in December. None other than FOMO. Now, there is very little support, once we break $50, 1st target is 34, where we will see capitulation, and even possibly a $20 litecoin like Charlie warned about in December and everybody was angry at him. Now look. Remember, Litecoin was only worth $4 at the beginning of 2017, up almost 900% since then!
Now, this is not all saying that Litecoin is dead etc, I'm sure we could see levels over $100 again in the future as the seller/bears are exhausted: the Litecoin community is still here, however I would not be buying yet.
LTCUSD to Bounce back up after the drop (>200 pips) - HIGH RISKLTCUSD is closing to the lower trend-line on a downwards trend. In this regard, LTC should bounce back up to test the resistance of the trend. However, due to the current movements of BTC and other Altcoins, the risk involved in going long on this pair now is rather high, thanks to the uncertainty created by the news.
For the moment this is what the technical analysis indicates, but Litecoin may create another low no matter the trend.
Do you believe LTC can bounce back despite the recent drop of BTC?
LTCUSD Approaching Support, Potential Bounce! LTCUSD is approaching our first support at 67.16 (161.8% Fibonacci retracement, Elliot wave structure) where a strong bounce might occur above this level pushing price up to our major resistance at 72.55 (horizontal pullback resistance, 23.6% Fibonacci retracement, 61.8% Fibonacci extension).
Stochastic (89,5,3) is also approaching support and seeing a bullish divergence where we might see a corresponding rise in price should it bounce off this level.
LTCUSD Approaching Resistance, Potential Drop! LTCUSD is approaching our first resistance at 79.53 (horizontal overlap resistance, 23.6% Fibonacci retracement, short term ascending support-turned-resistance line) and a strong reaction might occur below this level, pushing price down to our major support at 72.40 (horizontal swing low support). A breakout below our intermediate support at 75.85 (horizontal swing low support, 100% Fibonacci extension) might provide the bearish acceleration to our major support target. Ichimoku cloud is also showing signs of bearish pressure in line with our bearish bias.
RSI (34) is also approaching resistance where we might see a corresponding drop in price.
LTCUSD - 15M - Ready for another drop?We might be heading for another drop in LTCUSD very soon. After a complex 2nd wave correction, we might be finishing the 2nd of the 3rd wave of a higher degree downwards now. Playing this one very close to the chest with a stoploss slightly above E in the correction ($81.6). If we continue downwards, the range of $72-$70 is in play. If we go above the $81,6, that would invalidate the wavecount, and we might go for a longer correction in the 2nd wave of a higher degree.
Disclaimer: You know the drill, your trades are your responsibility. Happy trading!
LTCUSD Final Drop ? Time to SHORTHey Crypto Addict !
Hope You've seen the same thing I did on LTC
LTCUSD is on its final Bearish Trend !
According to those parallel Channel and the Fibonacci extension tool, we Should see LTCUSD hit above the 0.786 (Pink line) Before taking off for a bullish trend !
All this said, We all know how making good money on Shorting is easy.
But before doing so, Remember to evaluate your RISK/REWARD !
Love you all Followers !
LTCUSD’s monster descending triangle Price action between January 5, 2018 and $108.29 is captured in this analysis as a descending triangle for Litecoin (LTCUSD). The implication of this chart pattern is bearish, albeit not 100% of the time.
Litecoin (LTCUSD) currently has broken out of the is chart pattern and the downward target using a vertical projection of the width of the chart pattern means Litecoin (LTCUSD) would go back to $0 and cease to exist.
The earliest target for Litecoin (LTCUSD) to find support is placed between ~$58.20 and ~35.38 before any possible bullish momentum can be sustained.
LTCUSD - Short Term ShortLTCUSD does not seem to be finished in its present correction (wave 2 on a larger degree). After an impulse wave up, I noticed an impulse wave down. Seeing as an impulse wave down after an impulse wave up can only be the first wave down in a correction, I'm expecting the present price action to develop into another impulse wave down (wave C). Based on Fibonacci extensions, I'm expecting wave C to terminate around 115-113. I'm placing a stop-loss above the point of wave B (at $125), giving me a risk to reward ratio of 1:1. Fair enough!
LTCUSD expectation and price directionLTCUSD daily chart
Indicators are not positive at the moment.
I'm waiting for a jamming the price at the area I have marked
Then the price direction will become clear
There will be very volatile movements after the jamming
***This information is not a recommendation to buy or sell. It is to be used for educational purposes only.***
I'm sorry for the impaired expression..Just watch the chart, not what I write. :)
PS make sure you give me a like, If you LIKE this analysis .... If you like most of my analyzes, FOLLOW me .
Litecoin (LTCUSD) Elliott wave analysis update: 4hr tfMy previous post for Litecoin (LTCUSD) can be found here:
It was mentioned in the post that a move back upwards for Litecoin (LTCUSD) would terminate between $152.13 and $158.19 before another sell off in Litecoin (LTCUSD). Lack of recovery to the region of the horizontal green lines as mentioned in the previous post is interpreted to be a minute wave ((x)) for Litecoin (LTCUSD).
The implication of the above is that a minute wave ((y)) is currently on for Litecoin (LTCUSD) so selling should continue. Litecoin (LTCUSD) at the time of this post has broken just below Support 2 as given in the previous post (and also shown here). Any recovery from this support is expected to be weak as shown by the blue arrow on the chart and the next trajectory indicated by the red arrow.
The point of invalidation (POI) for this analysis is placed just above the high made on May 21, 2018 of ~$140.32.