Litecoin/Bitcoin Wave 4 corretion doneI believe that the correction of wave 4 is done, it show the same pattern in the Litecon/dollar chart so this is the confirmation.
FOLLOW and LIKE for more trading ideas.
Litecoinprediction
Bullish Flag on Litecoin Buy signal around 250 Dollar ( 220Eur) Litecoin technical analysis for December 16 2017.
The bullish flag has been forming since a few days now after a very strong uptrend on litecoin.
Sellers have tried to make lower lows but we ve seen a quick recovery to higher levels. Since Litecoin is trading in a so called BULLISH flag formation and is currently bumped to the upper trendline we can expect it to revisit the lower trendline to gain momentum and jump up from there breaking out higher. The revisiting of the lower trendline of the bullish flag also confirms the touch of the 38.2 Fib retracementlevel which has reacted strongly before with a bug bullish candle. A second attempt increases the chance of it breaking out to the upside towards 370 and 400 levels.
Possible break upwards without the above described decline is also possible but less favorable for entry at these high levels in the event of the formation of a double top.
Be carefull using limit orders since all exchanges on crypto s show different price levels.
BUY SIGNALS:
buy around 210 tot 225 eur levels,
255 to 265 Dollar levels.
LTC Starting New Wave to ~$750 Just In Time For SantaRough estimate after successful breakout.
Will know more once the Elliot Peak 1 is formed.
LTC - Descending Triangle PatternLitecoin has formed a descending triangle pattern, which is a bearish continuation pattern. I would expect LTC to break to the downside and continue lower in the short term.
Litecoin - A Little Overextended Litecoin has made an incredible move higher over the last several days but now appears very overextended. IMO LTC will need to consolidate here or possibly even pullback some to give the moving averages time to catch up.
LTC - Pennant PatternLitecoin is now forming a pennant pattern after a huge run-up in price the last couple of days. I would now anticipate a breakout higher and a continuation of the trend.
Caution: Litecoin drop to 160 !!! EASY !!!Litecoin will make price correction down to 150-160.
Dont rebuy at high levels.
Have a nice day guys.
LTC price will drop according to Tom Demark countTom Demark count gave a red 2 on the daily chart. This is a clear sell signal. Moving average convergence divergence also confirms this.
I expect LTC bear trend to continue up to 6 more days till we reach red 9.
Scenario1: Price will drop till 86.692 (fib 0.382) and bounce from there.
Scenario2: Price will drop till 80.566 (fib 0.5) and bounce from there.
Conservative Trading idea:
Short at: 95.5
Take profit: 87
Stop loss: 104
Aggresive Trading Idea:
Short at 95.5
Take profit: 81
Stop Loss: 107
LTC Buy Opportunity ArisingWe are due for a correction after double topping our 100 levels for LTC. This is normal and healthy as we will follow our fibonacci retracement. Further look will be assessed as the coin dumps.
Entry: 74
Stop Loss: 62
Target Profit: 125-130
As always,
Happy Trading!
#Litecoin #LTC is headed back to $60 USD with #Bitcoin Gold ForkLitecoin is looking bullish to reach past $60 mark again when the market spiked ($62) after the crash to $36 with the closure of the Chinese exchanges. Bitcoin is stabilizing above $4000 USD with the upcoming friendly fork of Bitcoin Gold -0.30% so Litecoin is looking to hold above $50. Look to swing trade between $52 and $56. First wave of Chinese exchanges are closing this weekend so I am looking to increase my positions. BTCCNY only accounts for 2% of trading volume now so I am not expecting for it to drop below $50, but I am prepared to increase my long term position if it does. Market looks bullish for steady climb with good price action -2.97% . I have purchased Litecoins below $46 before the pump to $98 and have sold all of it during at $60 and $72 resistance levels. I have been scalping trading it as it was coming down and made gains on it by buying at $65 and selling at $78 ($82 was resistance level before crash). I got stuck with some positions purchased at $60, but been steadily picking up around $50 and double downed at $46 - $48 for long term hold. I sold the LTC purchased at $60 and $50 range at $52 before it dropped below $46. I have now re-entered the Litecoin market to make some gains to increase my BTC position to get more of the free BTG. Sorry for not publishing this earlier as I had only uploaded to Twitter.
Please feel free to follow me on Twitter for my personal trades:
twitter.com
