Comment let me know your ideas crucial support levels broken in recent months due for a correction , Support level should be set with an open Tp or at the 60% range using fib retracement.
Simple move to the upswing and then we can expect a retracement back down and but before it begins its bearish decent, we can sell our LTC and buy back when it is low to increase holding size... been a while since ive posted, so lets see how this one pans out...remember guys dont try and predict the market, your not a time traveling God, but you can observe and...
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This could play out but there has been many bullish signs for the last couple of days, c wave could retrace to 0.5 fib level, but considering how bullish its been, I cant see c wave retracing past 0.312 fib level. only time will tell, just gonna see how it plays out for now and buy back in at lower levels.
Sorry for the messy chart guys, still learning EW theory...
Looking at the LTC chart with Heikin Ashi candlestick pattern, we can see the trend much clearer, and things are looking good with a strong uptrend, all green candlesticks with high wicks, which indicates the trend is currently strong.
However, I don't think we are completely out of the down trend just yet, price needs to make a higher high on the daily before...
Especially as we are approaching a key resistance level, RSI divergence, and a decrease in volume, could mean a big drop... (i do hope i'm wrong on this!)
This looks to be a very key resistance level for Litecoin right now, if we can breakthrough then i would expect a retest of this line as new support, then a breakout. Interesting to see how this plays out...
As we continue to bleed, Important times coming - up or down - will the trend continue or change?
As we now start to test previous lows, how low will we go before the support of the bulls turn up
I think price may touch 55.0 or even 50. The current down trend may take really long time, being optimistic I could think 3 or 4 weeks down. Being a bit more realistic I'm thinking the critoworld will recover in about 6 months. Well, news always surprise ! let's hope for the better.
Good luck to everyone
:)
I give litecoin an avoid rating now after the news that Charlie Lee dumped all his holding on the recent parabolic move.
From now i can see sideways down action.
Litecoin doesnt really offer enough more than BTC IMO to justify the parabolic move in value. Its use case isnt really much different to BTC except its shorter block time. Ripple can probably justify a...
Litecoin technical analysis for December 16 2017.
The bullish flag has been forming since a few days now after a very strong uptrend on litecoin.
Sellers have tried to make lower lows but we ve seen a quick recovery to higher levels. Since Litecoin is trading in a so called BULLISH flag formation and is currently bumped to the upper trendline we can expect it to...
It may go down to 63.50 or 62.50 by midday on Saturday 25th November. Based on parallel lines from previous Bullish close/open prices, and an intersection of Bearish open/close prices.
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