Litecoin LTC BTC short term reversing, mid term more Bullish
Litecoin Bitcoin LTCBTC 2 hour candles
Unlike most other big market cap cryptocurrencies, Litecoin has been one of the very few to see bullish momentum in the last couple of days. Days that were heavily dominated by Bitcoin. By now articles are being written to cheer on Litecoin's percentage increase.
Well, of course LTC went up: at some point it just had to go up again after it dipped that deep because of the disappointing LitePay launch (without the promised Visa card) I've written about a few weeks ago. But be cautious dear reader, just because it retraced a bit doesn't necessarily indicate that it is in full bull run mode again. In the immediate short term, as in hours / day(s) I'm leaning toward a bearish reversal: LTC finds tough resistance at the falling wedge border and by now it has also broken below the yellow trend extrapolation. The MACD, RSI and TTM Squeeze illustrate this momentum.
But that's just the immediate (very) short term. The team behind Litecoin is working as hard as ever to increase the amount of retail points and other partners that accept LTC payment and the Winklevoss twins hint at Gemeni support for Litecoin. With news and momentum I can see more bullish action soon, but it will need to break out from the blue falling wedge and the other colored trend lines to truly break free and set course for the sky.
But as always, Bitcoin could still become the party pooper here. BTCUSD has been very volatile this week (well months basically), and if Bitcoin decides to act up right when Litecoin is testing break points it could most definitely interfere. So make sure you follow Bitcoin as well, you can do so by viewing my BTC USD analysis and chart here:
You can use this chart analysis to assist you in trading, to help you identify trading patterns, trend lines, support and resistance zones you can monitor for breaks.
Personally I only enter trades after I witness a break confirmation and set layered sells slightly below resistance targets. My analysis is not financial advice: you should never invest solely upon reading my or another persons TA and always do your own research: explore news, social media, white papers, tech info and so on.
Be extra cautious during these times of Bitcoin, where BTCUSD fluctuations can easily disrupt trends of other coins. Monitor your investment and set alerts and stop loss orders in place.
I hope you enjoy my charts, please hit that like button so they move up in the list for more exposure, thank you!
Happy Trading! ~ CryptoJC
Unlike most other big market cap cryptocurrencies, Litecoin has been one of the very few to see bullish momentum in the last couple of days. Days that were heavily dominated by Bitcoin. By now articles are being written to cheer on Litecoin's percentage increase.
Well, of course LTC went up: at some point it just had to go up again after it dipped that deep because of the disappointing LitePay launch (without the promised Visa card) I've written about a few weeks ago. But be cautious dear reader, just because it retraced a bit doesn't necessarily indicate that it is in full bull run mode again. In the immediate short term, as in hours / day(s) I'm leaning toward a bearish reversal: LTC finds tough resistance at the falling wedge border and by now it has also broken below the yellow trend extrapolation. The MACD, RSI and TTM Squeeze illustrate this momentum.
But that's just the immediate (very) short term. The team behind Litecoin is working as hard as ever to increase the amount of retail points and other partners that accept LTC payment and the Winklevoss twins hint at Gemeni support for Litecoin. With news and momentum I can see more bullish action soon, but it will need to break out from the blue falling wedge and the other colored trend lines to truly break free and set course for the sky.
But as always, Bitcoin could still become the party pooper here. BTCUSD has been very volatile this week (well months basically), and if Bitcoin decides to act up right when Litecoin is testing break points it could most definitely interfere. So make sure you follow Bitcoin as well, you can do so by viewing my BTC USD analysis and chart here:
You can use this chart analysis to assist you in trading, to help you identify trading patterns, trend lines, support and resistance zones you can monitor for breaks.
Personally I only enter trades after I witness a break confirmation and set layered sells slightly below resistance targets. My analysis is not financial advice: you should never invest solely upon reading my or another persons TA and always do your own research: explore news, social media, white papers, tech info and so on.
Be extra cautious during these times of Bitcoin, where BTCUSD fluctuations can easily disrupt trends of other coins. Monitor your investment and set alerts and stop loss orders in place.
I hope you enjoy my charts, please hit that like button so they move up in the list for more exposure, thank you!
Happy Trading! ~ CryptoJC
Comment:
I have posted fresh Litecoin TA, you can find it here:
bitcoinexchangeguide...sh-bch-litecoin-ltc/
Let's see how this will affect Litecoin's trading price during these times of Bitcoin volatility.