The head and shoulders is still valid and can play out wiping out bulls dream. If not it moon for LTC.
LTC has went up, contrary to what I had thought, but relative to BTC it has been stagnant. This stagnancy is bearish for LTC, because a small retrace for BTC means a dump for LTC.
Will test first the 12 daily EMA and then if not supported the 4H 200 EMA.
Based on my TA i would see higher ranges.. Do we need LTC? - No | Is LTC = BTC ? - No | Are we here to hope for new highs? - Yes |
Just my opinion not a trading advice
Just something I feel that can happen. Especially if good ole BTC dumps.
I don't feel the risk is worth shorting currently. Trend lines and counter trend lines have yet to be met as well.
Leaning towards the bearish side. Focusing on BTC currently.
I think this is some elliott wave stuff but I don't really know, I'm in the early stages of learning this trading game.
I just have a feeling that we are in that phase of ltcs cycle and based on sentiments/posts on media
Not financial Advice.
Big break going to take place sometime this year. It's possible we'll break this tightening range on this move up. I want to see it fly past $100 towards that previous $150 mark if that's the case. Otherwise, we would be looking for one more solid move down which would likely push this breakout closer to the Q3 or Q4 of this year.
COINBASE:LTCUSD
Litecoin looks almost identical to Ethereum,its at the up trendline with a bullish engulfing candlestick formation.
go back to my ETHUSD post to see more in depth why I like this setup
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Litecoin is still ranging and we can take a short trade with target on channel's support and then catch it on a retracement. For other cases we should wait for confirmed breakout only
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if price lose its support level and break the range to downward than we can take a short postion
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