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Litecoin price Action (LTC) Possible Outcome Going ForwardWe all make dumb mistakes when we make biased decisions. For me, trading is about removing my personal biases (or what I think the market should do) from my trades. I change my mind about my trades fast and can change to being a bear very easily if price action shows me a different outcome. Removing these biases is what saves me from holding the bag when price action doesn't support my views. Proper stop losses are always in place to make sure that my bias doesn't get in the way. I do not want to trade based on what I think market should or will do. I want to trade based on what price action is telling me. Current set up is telling me that we need to get to the upper boundary resistance line, breakout of it, re-test it and go from there. I am targeting $120 but I may and will change my mind if price action is telling me otherwise. Always be loyal to your capital and not your views. Remember one thing when you trade "Your views will not be hurt if you are "wrong". Your capital will be hurt if you are "wrong". Your capital needs you to preserve it and grow it, you can change your views at your ego expense. You can change your capital at your "views" expense. Proper risk management, proper stop losses, elimination of bias - the only thing that will make you successful. Although this looks bullish AF - keep in mind we are still below the major breakout resistance, chart can morph into another structure so make sure you are not going to let your views hurt your capital. Dont let one day off gains make your next year's decisions. Happy Sunday and good luck to you traders! #litecoin #ltc
COINBASE:LTCUSDLong
by bossmodetrader
10
LTC-4h. Buyers need $83 to continue growingLTC buyers were able to give a decent answer to the local downward trend on 7 December. 16% rebound is a good result. However, this fight takes place within the consolidation triangle. The level of $83 plays an important role. This level plays a brake role. The LTC price does not turn immediately from this mark, but each time it is done with great difficulty. This time, buyers could only touch this mark . Trading volumes began to increase as they approached the white trend line . However, they are clearly not enough to continue growth. We expect to continue trading inside the triangle and test $71. __________________________ We create both short-term ideas (for a local understanding of the market situation) and medium-term forecasts of price movements. Subscribe to us and get daily concise analytics! ____________
Short
by P_S_trade
10
Litecoin |A pull back before the next rallyPreviously we have seen that the price action of Litecoin was expected to have breakout from the resistance of triangle. Now the price action has broken out the resistance and spiked beyond $94. On daily chart, the price action of LTC has found a strong resistance at $91 and formed double top at this level. The priceline has also good supports of exponential moving averages 10 and 21 as well. On daily chart, the price acton of LTC has also found a good up trend line support. Now the price action is moving down towards this support again. But in order to re-test the support breaking down of 25 SMS is must. The Other SMAs with the time period of 50, 100 and 200 are also moving up to provide the support to price action. On 4-hour chart, the price action of LTC is also forming a bullish Shark harmonic pattern. The potential reversal zone of this pattern starts form $78.73 and ends at $77.18. If the priceline will not take bullish divergence from this PRZ level then it may re-test the support of up-trend line on daily chart and from there it will start the next bullish rally. Conclusion: We have a very good supports of 25 SMA on daily chart and potential reversal zone of bullish Shark at same level. If these levels will be broken down then the priceline may move more down to re-rest the support of the trend line.
COINBASE:LTCUSDLong
by moon333
1
LTCUSD to see a slight downtrend(1D) | Upper band resistanceMarket in last 1 week LTCUSD saw an uptrend with the price riding the upper Bollinger band and gap up in price completed Price volatility was very high. The market moved ~37.85%, between $94.00 and $68.19 Today’s Trend analysis LTCUSD expected to see a slight downtrend as the price is riding the upper band with Bollinger band moving upward and upper band resistance Price at time of publishing: $86.77 LTC’s market cap: $5.722 Billion Oscillator indicators are mostly neutral. RSI at 69 in the neutral region Moving average indicators are biased towards an uptrend. Ichimoku Cloud is neutral with the Hull MA indicating selling opportunities Volume indicators observed an increase as the price increased with the volume above the 20-candle moving average Price expected to see a slight downtrend as the price is riding the upper band with Bollinger band moving upward and upper band resistance. Most of the Oscillator indicators are neutral. MACD line moving above the Signal line, histogram size decreasing in the positive region, suggesting a bullish bias. RSI at 69, in the neutral region with a pullback from overbought. CCI at 93, in the neutral region with a pullback from the overbought region. Another interesting point to notice here is that the volume observed an increase as the price increased with the volume above the 20-candle moving average indicating a strong buying pressure. ---------------------------------------------------------------------------------------- The analysis is based on signals from 28 technical indicators, out of which 17 are moving averages and the remaining 11 are oscillators. These indicator values are calculated using 1 D candles. Note: Above analysis would hold true if we do not encounter a sudden jump in trade volume. ---------------------------------------------------------------------------------------- If you find the analysis useful, please like and share our ideas with the community! - Mudrex
BITSTAMP:LTCUSDShort
by Mudrex
3
LTCUSD to see a slight uptrend(1D) | Price riding the upper bandMarket in last 1 week LTCUSD saw an uptrend with the price riding the upper Bollinger band Price volatility was very high. The market moved ~33.76%, between $77.18 and $57.70 Today’s Trend analysis LTCUSD expected to see a slight uptrend as the price is riding the upper band with Bollinger band expansion Price at time of publishing: $75.00 LTC’s market cap: $4.912 Billion Oscillator indicators are mostly neutral. RSI at 69 in the neutral region Moving average indicators are biased towards an uptrend. Ichimoku Cloud is neutral with the Hull MA indicating selling opportunities Volume indicators observed an increase as the price increased while saw a decline in volume as the price decreased Price expected to see a slight uptrend as the price is riding the upper band with Bollinger band expansion. Most of the Oscillator indicators are neutral. MACD line moving above the Signal line, histogram size increasing in the positive region, suggesting a bullish bias. RSI at 69, in the neutral region with a pullback from overbought. CCI at 176, in the overbought region indicating a downtrend. Another interesting point to notice here is that the volume observed an increase as the price increased while saw a decline in volume as the price decreased indicating a strong buying pressure. ---------------------------------------------------------------------------------------- The analysis is based on signals from 28 technical indicators, out of which 17 are moving averages and remaining 11 are oscillators. These indicator values are calculated using 1 D candles. Note: Above analysis would hold true if we do not encounter sudden jump in trade volume . ---------------------------------------------------------------------------------------- If you find the analysis useful, please like and share our ideas with the community! - Mudrex
COINBASE:LTCUSDLong
by Mudrex
2
Get Ready For Next BreakoutHey friends, hope you are well and welcome to the new update on Litecoin. In my previous posts I have showed two movements of the LTC coin one was the bullish BAT on daily chart. Another was a big descending triangle on weekly chart. And as per prediction the price action finally the priceline took a powerful bullish divergence from the potential reversal zone of BAT and broke out the resistance of the triangle. This move was more than 56%. Movement in up channel: Now on daily chart the priceline has started its move in an up-channel. At the moment the price action of LTC has reached at the resistance of this channel. In the meanwhile, the price action has also broken out the 25, 50, 100 and 200 simple moving averages and using 25 SMA as good support. A new move in a symmetrical triangle on long-term: Now on long-term weekly chart the price action has started a new move in a descending triangle. The formation of this new triangle was started in Feb 2020. At the moment the price action has reached at the resistance. If the price action will not be able to breakout the resistance this time then it may retest the support of this pattern. The 50 SMA is already at the support therefore there will be less chances of breaking down the support level. However, whether the priceline breaks out the resistance in current attempt or after re-resting the support the next target could be $100 (as per measurement of tail of the triangle to the support and placing this measurement at the tip). Conclusion: We have very strong supports at the support level of the triangle, however, if you are trading LTC on short term then you can set your stop loss at the support of the channel on daily chart. And if you are trading this coin on long term then the stop loss should be set the support of the triangle and the 50 SMA on weekly chart. Because the support of this triangle is the basic market structure for the price action on long-term if it will be broken down then a long term- bearish rally to the downside can be started.
COINBASE:LTCUSDLong
by moon333
1
LITECOINIf my trendiness are right (which they may not be) we have broken out of this pattern...would I would like to see is a return to the descending diagonal with a hold and then holy guacamole...SEND IT! Target of 75 for first profit... The Content is for informational and entertainment purposes only, you should not construe any such information or other material as legal, tax, investment, financial, or other advice. This is not financial advice nor am I a financial adviser. :)
BINANCE:LTCUSDLong
by RozeRoze