What Halving means?
Halving is a term common among cryptocurrency miners – the process sees the reduction of mining rewards of cryptocurrencies slashed by 50%.
The halving is the event, the moment when the mining reward is divided by 2, is commonly called "halving". Other denominations are used: "reward drop", "reward halving", or simply "the halving" or "the...
Head and shoulders pattern, we clearly getting 2nd lower highs on RSI on multiple time frames, MACD crossover to the downside, histogram is ticking down as well. Do we find support NOW at around 90$ or do will we test 84$ and 78$ level?
LTC LITECOIN has been one of the leaders among this bullish run of 2019.
This idea reviews the trading opportunities of LTCUSD since January 2019 according to signals given by "9 Seasons Rainbow Multiple Time Frames Pattern" Indicator.
Symbol: Kraken: LTCUSD
Ribbons of time frames: 15m - 11H
Red Arrows Down: Short Trade
Green Arrows Up: Long Trade
I think we are looking at the first wave of a final 5th. Look at the fantastic median line hits along the way.
A final 50% retracement has just been hit so looking for a target at about $115
This is a big move if it comes off so there should be plenty of 5-10% trades along the way
With the release of significant Tether/Bitfinex FUD today litecoin hardly budged and quickly regained the level taken.
In this case I'm going with "the trend is your friend" as everyone wants to call tops on this, we could easily see the current shockwave break up and challenge the recent highs to get around $100.
Divergence on Volume and RSI as well as other indicators suggest the LTC uptrend is coming to a close. You could argue that LTC has been leading many Alts for the past few weeks and if that were the case we could see a drop or a stagnation in many Alts in the days and weeks to come.