gianpinco

gianpinco

The 15, 30 and 50 days EMA spread-out are indicative of a major correction in play. Inverted flag and low volume confirm old supports will be tested soon. FEAR is dealing the hand for this type of scenario. The most experienced are keeping at least 70% of their portfolio in cash eagerly waiting to buy more at a discounted price or for a confirmation to reenter...

gianpinco

Litecoin HS formation on may 19th closed on the 22nd and 5 days after a big inverted flag confirms the negative trend. My attention on this educational, focuses on the three EMA lines in red, blue and orange.The 15, 30 and 50 days moving average have spread out widely and are pointing down. They are acting as resistances in particular the 15 in red for the past 48...

gianpinco

The black descending triangle does not look promising for LTC. The trend action is below both the MA in Blue and EMA in Orange, the two of them are strong resistances at $135 and $140. Above them lurks the top of the black triangle which also poses as solid resistance at $143. In my opinion the base of the black triangle and the purple ascending line are both...

gianpinco

My previous TA on LTC showed an H&S formation inside a symmetrical triangle with a promising break above the neckline. It bounced back from the neckline ($155) which offered a strong resistance. The bigger picture now shows LTC correcting inside a fairly large bear flag. The base of the flag has shown to be acting as strong support but has been pierced several...

gianpinco

On the 4 hrs there is another symmetrical triangle formation in green. Ltc TA loves these type of triangles. In this case it's good to note that a H&S has formed inside this triangle. This setting seems to anticipate a move up when ltc will reach 80% of the triangle (red vertical line) but the H&S neckline in black has shown strong resistance at $155. If a...

gianpinco Updated 

On the 1hr chart ltc has formed a bull flag(in orange) inside a symmetric triangle and it looks like it's ready to break up toward the .236 retracement at around $166. As I am writing it has broken up the top of the flag (in orange) and the resistance line of the symmetrical triangle. This should be maintained with a formation of a green full candle on the 1hr...

gianpinco

The 1 hr chart has already formed a nice Bull Flag.

gianpinco

www.tradingview.com On the daily Ltc shows some increment in volume probably correlated to Btc little jump up.The .786 has offered a strong support and I do not personally think will be revisited again due the ABRA news during the weekend, which is as a very good news for Ltc. As I am writing the RSI is at 38 and approaching 40 definitely a good sign. The next...

gianpinco

www.tradingview.com Litecoin got hyped by the rumor of Litepay (1st big bull flag), unfortunately Visa not complying with the release of its card has started a slow and steady decline in volume (2 small bull flag pointing down) with consequent downtrend and formation of H&S. The H&S neck at $200 support has been broken with a new low and weak support at $194 (it...