Litecoin Short: Breakdown of H&SFirstly, beware of volatility from upcoming FOMC.
From my analysis using 15 mins timeframe, I can see a clear head and shoulders setup that has broken through. Using a standard measuring rule of 1-to-1 distance (distance from head to trendline), I project that the take profit target will be around $59.75.
LTCUSD trade ideas
Exploring the Bullish Outlook for Litecoin (LTCUSD)Litecoin (LTC/USD) is showing a bullish trend, supported by several key fundamentals.
The cryptocurrency market is experiencing renewed interest, with Litecoin benefiting from its reputation as "digital silver" alongside Bitcoin's "digital gold" status.
Litecoin's upcoming halving event, expected in August 2023, is generating excitement as it typically leads to increased scarcity and potential price appreciation.
Additionally, Litecoin's growing adoption in real-world transactions and its recent integration into various payment platforms are contributing to its positive outlook. The overall crypto market sentiment is improving, with institutional investors showing increased interest in alternative cryptocurrencies like Litecoin.
I'm utilizing probabilities on my charts to get positioned into longs for Litecoin.
Now, let's take a closer look at my analysis.
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Feel free to share your thoughts and ideas in the comments below!
LTCUSD View!!Danny Ryan, a prominent researcher at the Ethereum Foundation, has announced his resignation after seven years of work within the Ethereum ecosystem.
Ryan played a pivotal role in Ethereum’s transition to a proof-of-stake consensus system, most notably during “The Merge,” which marked the blockchain’s shift away from proof-of-work.
Ryan cited personal reasons for his departure, emphasizing that his decision is not a critique of Ethereum or the broader cryptocurrency space.Ryan to Search for New Opportunities
LTC: Bull and Bear countsLTC long form consolidation is making things very difficult to apply Elliott Wave counts. The consolidation looking like a long triangle, which can be wave 4 or wave B. Triangles can take a long time to complete and usually designed to make life difficult for traders and investors. So, keeping that in mind, bull count is in Blue and bear count is in Red.
Triangle invalidation as well as a confirmation on either bull or bear side will be a break over either $116 or below $41. Bear count might take longer to complete than bull count.
LTCUSD SELL ANALYSIS DOUBLE TOP PATTERNHere on Ltcusd price has form double top pattern showing that is likely to fall also looking at the chat there is resistance form around 68.08 and this could trigger selling.If line 59.05 break there is high chance of falling so going for SHORT is expected with target profit of 49.52 . Use money management
Litecoin - Short-term Bullish CampaignLitecoin is dropping hard and just reached the last line of local support at $60.70. We estimate that this key-level support is going to hold it's ground and push price action to an upside reversal. We pull the trigger on a new bullish campaign, targeting $66.65
LiteCoin / U.S. Dollar | Chart & Forecast SummaryKey Indicators on Trade Set Up in General
1. Push Set Up
2. Range Set up
3. Break & Retest Set Up
Active Sessions on Relevant Range & Elemented Probabilities;
* Asian(Ranging) - London(Upwards) - NYC(Downwards)
* Weekend Crypto Session
Trend |Time Frame Conductive | Daily Time Frame
- General Trend
- Measurement on Session
* Support & Resistance
* Trade Area | Focus & Motion Ahead
# Position & Risk Reward | 15 Minutes Time Frame
- Measurement on Session
* Retracement | 0.5 & 0.618
* Extension | 0.88 & 1
Conclusion | Trade Plan Execution & Risk Management on Demand;
Overall Consensus | Buy
LTC ANALYSISMartClues AI Analysis: Approaching Support Level
Trade Setup:
As of Aug 27, 7:00 UTC, the price is approaching the support level of 62.7882. The pattern is still forming, and a possible bearish movement towards this support level is anticipated within the next 2 days.
Pattern: Approaching Support
When the price approaches a significant support level, it may either reverse or break through. Traders should watch for price behavior at this support level to determine whether the price will bounce back or continue downward. A bearish movement towards this support level suggests a potential decline, but confirmation is needed.
Trend and Momentum:
Short-term Trend: Bearish (if the support level is breached)
Medium-term Trend: Depends on price reaction to the support level
Long-term Trend: Monitoring for potential changes
Support and Resistance:
Nearest Support Zone: 62.7882 (current support level)
Nearest Resistance Zone: Levels above the current support should be monitored for potential reversals or breakouts.
Take Action:
Monitor how the price interacts with the support level of 62.7882. If the price shows signs of breaking below this support, consider adjusting your strategy to account for further bearish movement. Set a price alert to track any significant changes and update your trading approach based on the latest developments.
LTCUSD: X1X2 Strategy Shows 62% Probability of New Highs!Recent economic developments and market trends are aligning to create a potentially favorable environment for Litecoin (LTC) to reach new heights.
By using X1X2 method, I aim to increase the likelihood of successful trades as we target Litecoin's all-time high. The combination of a supportive economic environment and strategic use of probabilities in technical analysis creates an exciting opportunity for Litecoin longs.
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Your ideas and feedback are welcome - let's discuss in the comments!
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Stop Loss : Recent Swing Low using 4h timeframe
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OMG! ALT Season is SO CLOSE!!!! ALT HOLDERS will BECOME RICH!6 1/2 years of a corrective cup formation for massive coin absorption in the market for the market makers.
notice each low is holding in an upward support level and not fully reclaiming after each correction down.
notice that the handle from the 2021 bull season trap at the highs was a corrective formation to build out the handle pullback. we are now forming tight consolidation within a small major breakout retest on old resistance from the handle.
when the green triangle breakouts out it will run north! potentially could pull back one more time within the green triangle and retest the support for a major BUYYYY!!
THIS LOOKS SO GOOD AND YOU BETTER HAVE YOUR ALTS READY TO GO!!!
2017 is in motion again!
BULLS WILL RUN HARD!