In my opinion, that wedge was the first of 5 elliott's waves. Now, i expect a zig zag for the second wave. I so expect a drop until 0.618 and, then, a new impulse pattern. Let's see in the next hours .
$LTC is currently underperforming as it trading below EMA8 and almost on EMA200 on the 4H. Unless it flips the EMA8 into support and bounces back to test EUR 172 again , things could turn ugly.
Last trade with ADA gave us 350% to the top. Next we are betting on LTC to climb to the top with over 100% profit potential. A few reasons why I like this trade:
- Nice bounce to a strong level/zone with 3 huge touches
- Further support from demand line of upward channel
- Compared to BTC, LTC's price is at a 3-4 year low point and shows trend reversal signs.
LTC...
RSI is only an adjunct to volume. It is not needed. However after getting a grasp on supply and demand trading or Wyckoffs accumulation versus distribution concepts RSI can be very useful. I use it as a personal backstop and situational awareness tool.
RSI here us set to 7 versus 14. The overbought and oversold are re-designated to the Supply and demand lines....
Hello everybody,
LTC TA this time, beceause i Think ATH is a consistent coin, with some good profit.
If he hits resitance and not braking, he will fall back to the support, and then climb up. if he brakes he goes to 148.10.
So i hope he don't brake, fall back to support, then buy, and then climbing up to resitance around 137.2, beceause it this way profit is the...
If the RSI break below the rising channel on the 4hr chart, the price will dip for a while. If it remains within the rising channel, it will go up but I don't expect it to pump.
