After several hours looking into why I didn't see the Litecoin pump, I came to the conclusion I was looking at the wrong charts. LTCUSDT and LTCBTC are not really that important anymore (and those were the ones I was looking at). The important chart is really LTCCNY, considering China is exploding in volume and the Technical Analysis trend is quite easy to predict...
On the daily chart price bounced from MA20. We got the confirmation of price reversal and a signal of possible upward movement. Based on the 4H time frame we have to find entry levels for buying. We can see the downtrend line which is a barrier for upward movement. It will be logical to open long trades if the market breaks this downtrend line. We can place buy...
• LTCUSDT primary targets $53 , secondary target $59 , likely to go to $59. Triangle breaking out should yield around $59 level; afterwards ABC correction.
Let's think about possible price movements of Litecoin using Ichimoku indicator and levels. We can see that price is going to pass through the kumo. ADX line of DMI indicator rises to 20 level and it can be a confirmation of a new down movement. If price breaks 44.00 support level, we'll be able to see falling to the support zone between 35.00 and 32.00 levels....
If we look at the daily chart of Litecoin, we can see that price diverges with MACD and RSI indicators. We have a bearish divergence which is a strong trend reversal signal. Probably the market will drop to the support zone between 35.00 and 32.00 levels or even reach MA100. MACD confirms down movement. ADX line of DMI indicator falls to 20 level and it tells us...
LTC/USD broke out into new territory with closed candles confirming the break on both 4hr and daily time frames. With a consolidation above $50, former resistance is now acting as support. I expect the pair to move much higher in the coming days.
Litecoin reached 50.00 resistance level. Long trades, which were opened based on the downtrend line breakout, gave good profit. Now we have to think about new entry levels for opening new long trades. We should not buy now, because it could be a retracement soon and price drops lower. Where to buy? We have 2 possible entry levels which are near the uptrend lines....
I missed the train but not going to FOMO on this. I don't think LTC is ready yet for this years massive pump. Still got some more correction to do and more weeks to go. I'm still bullish long term.
Two short term bearish signs:
- MACD 1H about to cross down.
- Bearish Butterfly Harmonic Pattern.
LTCBTC also touched a huge resistance.
Good luck!
Check out...
Litecoin has been acting stronger than $BTC, I assume it might grind sideways like practically all coins, until all hell breaks loose by August 1st. Most people are worried, or bearish overall, and in the recent bottoms, we saw traders unload long positions in loss, to quickly realize they had fallen for a bear trap. Until fundamental risks aren't out of the way,...
Let's look at the 4H chart of Litecoin and find possible entry levels for buying. We can see that price bounced from the downtrend line and moved lower to 34.00 support level. If price drops to this level and the uptrend line, this area will be the 1st entry level for opening long trades. Stop orders for these trades must be lower than the uptrend line and take...
I recently sold our LTCUSDT trading position (bought at 43, sold at 47).
The cryptocoin is showing weakness with MACD and RSI exhibiting stark divergences from price. MACD and RSI are forming much lower highs compared to the same/slightly higher highs of price.
Re-entry point (in case you want to trade again) will be 41 and below.
Massive Bullish OBV divergence (clearer on Hourly)
MACD is pinched and primed for a move upwards (clearer on Daily)
RSI has plenty of room to make a run (similar on both TFs)
Stoch RSI oversold on Hourly, but not super worrisome on Daily
This week, OBV bull div seals the deal.
LONG
Also, something about Charlie coming back feels fortuitous.
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Poloniex LTC/BTC
If keep upward channel blue line ($20)
We will see $100 (0.03 LTC/BTC) or $150 (0.05 LTC/BTC) in the next few months
I think that LTC is now at the bottom.
Litecoin went from 17 USD to 38 USD and corrected from there, we see it bounces at the 24.5 USD support line, but the bounce after crash wasn't that strong. It didn't retrace fully back to 32 USD thus bulls are less strong and something is holding people back. For now we see the trend channel closing in, seen as the blue curves. The gann fann (yellow) indicates...
![LTCUSDT: LTC Long then Short [Market Geometry/EW]](https://s3.tradingview.com/e/Equ8oDCw_mid.png "LTC Long then Short [Market Geometry/EW]")
