BallsOfSteel32

BallsOfSteel32

In this chart, im going with the 30 minute time frame to show the breakdown of the market. The price action went bearish after the 330 peak. The price started breaking down slowly at first, until a swift fall through the .236 fib. The price ended up bottoming out right around the .618 fib, just shy of 239 at a key area of support. Key levels in this...

BallsOfSteel32

Here we are, trading above 271 at time of posting. RSI Leaving Neutral Northbound Bearish Case in Red Bullish Case in Green Looking for another touch on the rsi, on a valid top trendline Possible 3rd touch on top trendline potentially validating megaphone shape. That idea will be linked below.

BallsOfSteel32

Here we are again for the third time in a short while. Here, we are looking at the daily time frame. LTC has retraced off its last impulse and has already regained all of the losses and has made a new high for the year. LTC continuing to gain against a relatively flat BTC. RSI is still neutral, with room to touch the top line marked in red. Price action...

BallsOfSteel32 Updated 

There is not a third touch on either the top or bottom trend line. I am looking to see if these lines will be validated over the next several candles. This could be a possible megaphone formation. LTC has corrected off another push at the 240 range. This idea more in depth in my previous post linked before. RSI has fallen back well neutral around the 50...

BallsOfSteel32 Updated 

Touched up to the .236 fib level and are currently trading below it. This may be the final break to test the 240 zone again. Possible formation of a double top attempting the 240 zone again. LTC gaining against a sideways trading btc. RSI still nuetral at the moment of post. Preparing my short opportunity if we have a second rejection. This is not...

BallsOfSteel32 Updated 

Green Arrow is the bullish case, Red arrow is the "bearish" case. LTC possibly looking to retest old resistance for new support at the .236 Fib Level. Bullish momentum continues with BTC. Buy set-ups incoming. RSI is well neutral. I think this is the final stage of the correction before we retest our yearly high. This is clearly not advice. This is for my...

BallsOfSteel32

The falling channel appears to be coinciding with the bottom of the falling triangle. Previous Idea Linked below This is a zoom in on my previous 4 hour chart. This is not advice. This is for my record and reference as a hobby trader. Only trade with what you are willing to lose and have a plan. Main Idea linked below

BallsOfSteel32

We broke to the upside off that triangle. Forming a smaller one currently on the 4 hour. LTC at 193 at time of post. We look like we are climbing the fibs step by step. .786 at the bottom, then the .618. Now the .5 ready to break. RSI nuetral with plenty of room on the 4 hour. This is not financial advice. This is for my record and reference as a hobby...

BallsOfSteel32

I thought the bottom was in before last night. This last low has made me a little uneasy. I hope this is how this shape plays out, as it has twice before within this run. Those Ideas will be linked below. We are coming up on a fresh daily weekly and monthly candle. Ltc is forming a right triangle in what I believe is happening in a reversal setting. There is...

BallsOfSteel32

I wanted to take this time to talk a little about my history with cryptocurrencies and the hard learning experiences that came with it. First things first, on this chart you can see where my last buy was marked with the arrow. This was the last trade attempt I made before LTC continued to trend downward. I was trapped with $180 Ltc, and I had no idea how to use...

BallsOfSteel32

After weeks of gains, with only small retracements the market was way over-extended. Zooming out on the daily and weekly chart, we can see that ltc printed huge gains without much interruption. As a result, we have pulled back deep into our gains. We fell well below the .618 fib level. In hindsight, this correction seems fitting for our strength over the last...

BallsOfSteel32

Posting this idea after the correction as a potential way this could play out. Neither of these trend lines are good at the moment, but curious to see if they get validated. LTC rsi on the 4 hour is well nuetral and turned up. It had a small break below the marked channel, possibly invalidating it. I will leave it in chart. Here, we are looking at a Narrowing...

BallsOfSteel32

Touched the .618 and then the .5 almost to the mark. Sitting just above the .382 at time of publishing. Seem to have hit all the fibs like clockwork. Who thinks that was our correction? Back to test the supply again? Bounce from last weeks resistance for a quick rejection upward. Bottom trend line on rsi held exact and has many touches now.

BallsOfSteel32

The rejection from the major supply zone just occurred, sending us back to the local support we are sitting on at the publishing of this idea. This supply zone will likely take multiple attempts to break this area and enter discovery between the two purple lines overhead. Looking for LTC to trade in this channel to the upside, before retesting this supplied...

BallsOfSteel32

This has happened before in this run, with very similar structure. That Idea is linked below. LTC forming a right triangle after a correction off a major impulse. I think this triangle is ocurring in a reversal setting and will be squeezed down until a breakout to test the next resistance. RSI is low in the Channel marked and is nuetral. Higher lows forming...

BallsOfSteel32 Updated 

LTC appears to have bottomed out on this correction after a major impulse. It bottomed out much further than anticipated, but it makes sense due to the strength of the impulse. The rsi has fallen into the nuetral area around 50 and has begun its turn upward. I will be looking for a third touch on the trendline in the rsi for potential next short opportunity. Ltc...

BallsOfSteel32

Fib taken on the impulse we just had. Ltc maxed out at 231. LTC sitting on support at 214 area. Notice the trend prediction on the rsi, and how it met the level and turned at two points. Touched down to the .236 fib level Possibility to go to the .382 Level for a quick bounce. I will have a buy order in just above this fib. If it doesnt hit, I take the...

BallsOfSteel32

Through this one together last night, didnt have the balls to post. So im posting it now. LTC expected to touch rsi marked on chart. Impulse is close to maxing out readying short position. The arrows tell the story. I did not identify a top because this large area is discovery. I will be watching the 4 hour chart closely. This is clearly not advice. This...