Hey guys!
We had a massive bearish run since December 2017. Like almost every Altcoin LTC dropped into dark and lost almost 75%.
But now, we got some signs that LTC is short before a massive bullrun again, although we got a falling wedge what is usually a bearish formation.
1. We got very low RSI, forming a cup, and it's very likely that we see a trend reversal here. --> bullish
2. There is a major Support Area around 80$. We bounced there serveral times before, the support is very strong. Not likely to fall below that, and if so ... the crash will be very hard. --> bullish
3. Our falling wedge could be a symetric contracting triangle of Elliot Wave, what can be a bullish formation for continuing the last uptrend ... --> bullish
My choice:
I wait for a confirmation.
I want to see the cross between SMA 5 and 10, maybe even 20 if i am uncertain.
The falling trendline has to be broken.
My Stop Limit will be close below 80$ to reduce losses when Support Area will be broken.
Happy Trading!
!! Mention: That is my personal opinion, no trading advice. Its your money, your trade, your risk and your responsibility.
We had a massive bearish run since December 2017. Like almost every Altcoin LTC dropped into dark and lost almost 75%.
But now, we got some signs that LTC is short before a massive bullrun again, although we got a falling wedge what is usually a bearish formation.
1. We got very low RSI, forming a cup, and it's very likely that we see a trend reversal here. --> bullish
2. There is a major Support Area around 80$. We bounced there serveral times before, the support is very strong. Not likely to fall below that, and if so ... the crash will be very hard. --> bullish
3. Our falling wedge could be a symetric contracting triangle of Elliot Wave, what can be a bullish formation for continuing the last uptrend ... --> bullish
My choice:
I wait for a confirmation.
I want to see the cross between SMA 5 and 10, maybe even 20 if i am uncertain.
The falling trendline has to be broken.
My Stop Limit will be close below 80$ to reduce losses when Support Area will be broken.
Happy Trading!
!! Mention: That is my personal opinion, no trading advice. Its your money, your trade, your risk and your responsibility.
Trade active:
not much views and likes here .. i think ltc really has a very good chance ...
enjoy the ride guys!
enjoy the ride guys!
Trade active:
still active.
be careful if we drop below 80!
use SL ...
Good Luck
be careful if we drop below 80!
use SL ...
Good Luck