LTCUSD has presented us with a brilliant looking trade scenario.
Price is trading in a pennant, and will eventually break to the upside or downside.
General rule suggests pennants of this form will break to the upside, but LTC may be due some downside to meet a key level, so we keep the possibility open.
If price breaks to the downside, 180 pips downside...
Double bottomed and oscillators showing class B bullish divergence on the 1 H.
Ltc reached the 0.382 fib level of the Fibonacci taken from 107 high to 62 low, some profit was taken on these levels and now we touched the 0.236 fib level for a second time creating what seems like a double bottom with a bullish divergence on the 1H.
Good entry point for taking...
Litecoin after reached a low at $22.54, it increased in value %551.96 and established the high of the year at $146.95.
A possible head and shoulders top can be spotlighted as a major pattern, it is a 20 weeks H&S and some minors patterns have formed over the course of this major pattern.
During the last 11 days, the price has been inside a parallel channel...
Topological relationships are common in price dynamic structures. For example, in 2017, BTC has been replicating the volatility of 2011-2013, so LTC currently supports price topology within its 2017 price range.
with a bearish cross of the 100 and 200 DEMA a few days ago, and the descending wedge on the daily, it looks bearish for litecoin and a fall to the .786 is likely. So i'm short with a stop above the descending wedge
Litecoin broke above this descending support line, an important move, but it did so without convincing momentum.
Had this Long setup ready to go if it made a decisive move, but although it broke out of the channel it did not hit the target yet.
It bounced off the 200EMA. Now hovering around the 100EMA.
Litecoin halvening is a few days away but it is generally...