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LTCBTC trade ideas

LTCBTC bullish pennant potentially formingLTCBTC looks to be forming a potentially bullish pennant on the 4-hour chart (yellow dotted lines). This looks to be somewhat confirmed by the hidden bullish divergence on RSI (dotted yellow lines on RSI and price), looking more likely to indicate a continuation upward based on the short-term trend. There is still some potential for the trend to extend further forward for hours/days, but it is good news for LTCBTC that it has not trended downward yet (particularly when BTCUSD took a dip over a day ago). If the pennant breaks upwards, the resistance looks to be at the upper part of the wedge I mentioned before (blue dashed lines). If this resistance breaks, LTCBTC has the potential to break from the year long descending wedge and the opportunity to take on a YEARS long wedge instead (see my previous posts for details). At the very least it should be interesting to see which way the current wedge breaks over the next few hours/days.
Long
by crypto_trends
1
LTC/BTC Long (please discuss)LTC/BTC waiting for possible breakout. Wait to buy lower near the box, if breakout doesn´t occur, i´m confident that there will be another chance to sell higher. The phoenix indicator clearly shows a top, the price can still range in the upper range for more than one or two days before falling down to the box. If it doesn´t fall in the box and volume is high, i would consider buying higher to not miss the breakout, but only if there are clear indications. For now i think we will fall back a little, which is either way a good chance to buy. Please discuss - open to critique.
Long
by Tommy_bnks
LTCBTC nears year-long wedge top againIn the past week, LTCBTC broke out of the wedge of which I have been speaking for a while now, but now looks to be heading toward strong resistance as it hits near a wedge that has been forming over the past year (dashed blue lines). The wedge itself has the potential to go until either summer of 2021 or even into the end of 2021 (e.g., if the small, solid-yellow trend line breaks, which some have claimed looks like a potential descending triangle pattern), but I figure it good to bring to anyone's attention who watches litecoin. If this wedge were to break (and again, it is just an opportunity, as the wedge has potential to continue for months), the next point to watch is the long term trend which has been forming a wedge for many years. If that level ever does break upward, the potential for LTCBTC could be rather large. The current likeliest scenario that appears supported by hidden bearish divergence on RSI (white line) looks to be in favor of LTCBTC staying in the downward trend either continuing in the wedge (dashed blue lines) or potentially continuing into the descending channel (yellow dotted lines), but the current point of resistance definitely looks to be a point of interest for anyone looking for LTC breakout possibilities. A lot of the direction will likely dependend on the price of BTC, as a steep drop or a drastic reversal for BTC easily has the potential to sway LTCBTC in the downward direction.
by crypto_trends
4