LTC/BTC reversal- bullish!! [mid term idea] lots of bullish signals supporting the idea that a major trend reversal has occurred for LTC/BTC.
LTC just hit $400 and many hope that it will follow ETH to the moon, especially in lieu of DOGE's unexpected success (DOGE is a hard fork from LTC's blockchain)
Large Cap alts are definitely having a moment right now, and as long as BTC continues to weaken, LTC/BTC will make for a great mid term hold.
happy trades,
CD
LTCBTC trade ideas
LTCBTC 4h ascending triangleAs we can see, LTCBTC formed this ascending triangle on the 4h chart.
In case LTC manages to complete the target to the upside, it could also break the red resistance line which has held for about 2 years. When it does break that resistance i believe we might see LTC fly just like ETH has been doing after breaking its 3.5 year resistance line (ETHBTC).
Watch out for the confirmed break out !
Happy trading !
LTC: Breakout time approachingLTC, as well as the other coins, is printing a really nice structure, ripe for breakout.
Namely, we have a huge bullish divergence in the RSI on the weekly timeframe, while LTCBTC is falling.
LTC is a ticking timebomb, ripe for a brutal rally, same as many other altcoins. We can go as high as the historical falling resistance line which I drew.
Litecoin - LTC - Close to Trend Line Entry PointMy entry point for LTC (Litecoin) is anytime it hits the trend line. That point is close with the trend line currently sitting at almost $270 and the price of LTC hovering around $300. If Bitcoin, BTC, pulls back to $42k soon, we would see LTC have a similar pullback and reach that buy target point on the trend line.
I'm looking at a price target exit point for Litecoin around $540. I will also be looking at the RSI on the daily chart, as it typically starts topping out once the RSI reaches 75 on the daily.
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