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Litecoin (LTC) Reached At The End Of Triangle For Big Move SoonHey friends hope you are well and welcome to the new update on Litecoin. In my previous article we have seen that the LTC formed a bullish reversal BAT pattern and entered in the potential reversal zone. Now the priceline is moved up from the potential reversal zone and it has produced more than 12% rally so far. The priceline is bounced from the support of the channel: Since 16 July the priceline of LTC was moving sideways at the support of an up channel. After starting the bullish move from the potential reversal zone of BAT pattern the priceline has also bounced from the support of this up channel and likely to move up to the resistance of this channel that is almost at $50. If we switch to the weekly chart then it can be seen that the price action is moving in a very big descending triangle and it is being rejected by the resistance of this pattern since Feb 2018. After being rejected in the month of Feb 2020 the price action has again bounced from the support of this triangle and moving sideways. If we take a closer look on the chart after placing the volume profile indicator then the price action is moving around a point of control of volume profile. Now if it will be continuously moving around this point of control level then priceline of Litecoin can leave the triangle without breaking out or breaking down. However, after leaving the triangle priceline of LTC can use the resistance of the triangle as support as it will be above the resistance level of this triangle. And after successful re-test it can start a big upward move. Conclusion: On the daily chart the price action has moved up from the potential reversal zone of a harmonic pattern and also took bounce from the support of an up channel. Therefore there are more chances that the priceline of Litecoin will breakout the resistance rather to break down the support. However, we can use the support of the up channel on daily chart as stop loss because if it will be broken down then the price action can move more down to re-test the support of the triangle that has been formed on the weekly chart and that support is at $33.5.
COINBASE:LTCUSDLong
by moon333
LTCUSD has bounced from the supportHey guys and gals hope you are doing well and welcome to the new update on Litecoin. In my previous post I was expecting that the price action has completed the final leg of bullish BAT pattern. But the final leg retraced little bit more down up to 1.281 retracement level and changed its pattern from BAT to bullish Crab pattern. After entering in the potential reversal zone pirceline moved up by 15%. Previouse post: Current Crab move: Finally priceline is moving up from the support of channel: The priceline of Litecoin has also formed in up channel after the mid of March 2020. And since 26th of June the priceline was moving at the support. Now finally the price action has started upward move and likely to make another attempt for the break out. Descending triangle and volume profile: If we switch to the long-term weekly chart then LTC coin is also moving in a descending triangle. After taking bounce from the support on 9th of March 2020 the price action is moving at the centre of this triangle. After placing the volume profile on the complete price action moving within descending triangle we can get the reason why the price action is moving at this level. And it can be clearly observed that the point of control of the volume profile is at this level. Therefore the priceline is moving around this point of control. However, if we watch the trader’s interest as per volume profile then it is at $85. Therefore it will be easy for the priceline to move up to this level. And in order to reach at this level the price action will need to breakout the resistance of this triangle. Conclusion: As the price action has already bounced from the support of the descending triangle and also has taken bullish divergence from the potential reversal zone of Crab pattern. Therefore we can expect that the priceline of Litecoin can make further upward move to reach at least up to the resistance of the triangle. However, we should set our stop loss point at the support of an up channel that is formed on the daily chart. Because if it will be broken down then priceline can start a downward rally.
COINBASE:LTCUSD
by moon333
1
Litecoin 12000%??? | LTC Price Analysis 2020-2021Hi guys and gals and welcome to the new update on Litecoin. The LTC is moving very well between the different patterns and we will talk about those moves and we will also discuss the different indicators and the moving averages as well. Up channel and EMAs Like every top altcoin the litecoin also has formed an up channel. And sometimes it is moving above the exponential moving averagea 10 and 21 and sometime it was moving sideways with these EMAs. At this time the price action has almost broken down the EMA 10 and 21 and likely to have a bounce from the support of the channel: The different harmonic moves within the channel: Price action of Litecoin is forming the different harmonic moves with the continuation within this up channel. And every time when it enters in the potential reversal zone of any pattern it takes powerful bullish divergence successfully. First of all the price action formed a bearish Butterfly move then it formed bullish BAT pattern. After the successful formation of BAT pattern it completed the formation of bullish cypher and now it has completed the formation of another bullish BATT pattern and entered in the potential zone of this BAT. This PRZ level or buying zone starts from $43.51 up to $. 67. From here LTC can again take the powerful bullish divergence. However we should set the maximum extent of this potential reversal zone as our stop loss. Because if this PRZ level will be broken down then the price action may move more down to form a bullish Crab. Simple moving averages on daily chart: On the daily chart the 50 simple moving average has formed a bull cross with the 100 simple moving average. But the price action is still moving down and at this time it is having the support of 100 SMA. If the 50 simple moving average will form the golden cross with 200 simple moving average then the price action can move more up restart an another bullish rally. Because golden cross between 50 and 200 SMAs is considered as a very strong buying signal among the trader's community. Simple moving averages on weekly chart: If we watch the simple moving averages with the time period of 50 and 100 on the long term weekly chart then it can be clearly seen that when back in 2016 the 50 SMA crossed up the 100 simple moving average then it leaded the price action to turn very strong parabolic bullish that produced more than 12000% rally. This time again second time in the history of LTC the 50 simple moving average again formed a bull cross with 100 simple moving average on 3rd Feb 2020. But there was a big difference between the previous bull cross and current bull cross, because the previous bull cross of 50 and 100 SMAs was formed below the candlesticks and that is very strong bullish signal but on the other hand the current bull cross between 50 and 100 SMAs was formed above the price action. Therefore even though this golden cross pulled the price action up but at the same time it was working as a resistance for the priceline. And the price action could not breakout this resistance level of the moving averages and moved down. Simple moving averages on monthly chart: For any big move I am looking at simple moving averages of monthly chart. Below you can notice I have placed two simple moving averages with the time period of 7 and second is with the time period of 50. The 7 simple moving average is very significant and has very importance role to produce any big move. On the below chart you can observe that back in Jan 2017 when the 7 SMA crossed down the priceline the it produced more than 12000% bullish move. Then again in March 2019 the 7 moving average crossed down candlesticks then it produced more than 274% bullish rally. Now at this time the 7 moving averages is very close to the candlestick even it is touching the upper wick of the candlestick and showing the tendency to move down again. this time the 7 MA is already in bear cross with 50 simple moving average. Once the 7 SMA will again cross down the price action and start lifting the priceline upward then it will also form a bull cross with 50 simple moving average as well. And that will lead to a very powerful long term bullish move. Conclusion: The price action is already in the potential reversal zone of bullish BAT and has the good support of 100 simple moving average. If the seven moving average on the monthly chart will provide a support to the price action then we can soon witness a very powerful bullish move.
BITFINEX:LTCUSDLong
by moon333
LTCUSD forming bullish Shark | Upto 12% move aheadHi fox hope you are well, here I have found another profit potential trading idea for you and this time on 6 hour chart the Litecoin (LTC) is forming bullish Shark pattern and soon it will be entered in potential reversal zone to move up. The Pattern: After initial leg (X to A) the A to B leg is retraced between 0.382 to 0.618 Fibonacci and then B to C leg is projected between 1.13 to 1.618 of A to B Fibonacci projection area and last leg (C to D) should be retraced between 0.886 to 1.13 Fibonacci then the priceline will be ready to take bullish or upwards move. Buying And Sell Targets: The buying and sell targets according to harmonic Shark pattern should be: Buy between: $56.78 to $55.22 Sell between: $58.56 to $62.15 Stop Loss: The potential reversal zone area which is up to to $55.22 can be used as stop loss in case of complete candle stick closes below this level.
COINBASE:LTCUSDLong
by moon333
2
LTCUSD formed bullish Shark | A good long opportunityPriceline of world's 6th largest cryptocurrency Lite Coin (LTC) has formed bullish Shark pattern and entered in potential reversal zone. This potential reversal zone should be used as stop loss in case of complete candle stick closes below this zone. Let’s have a look on the dimensions of LTC price action's moves: After initial leg (X to A) the A to B leg is retraced between 0.382 to 0.618 Fibonacci and then B to C leg is projected between 1.13 to 1.618 of A to B leg's Fibonacci projection (there is little bit difference which i have ignored coz all other legs are driven perfectly as required for bullish Shark) and final (C to D) leg is retraced between 0.886 to 1.13 Fibonacci as required for perfect perfect bullish Shark and now we are entered in potential reversal zone of this bullish Shark pattern, now we can expect bullish divergence at any time which will lead the priceline between 0.382 to 0.786 Fibonacci projection of C to D leg, but after this bullish divergence if the candles sticks will be closed above 0.786 Fibonacci levels then it can also lead to the long term bullish move. As per Fibonacci sequence method we can set our targets as below for mid term trade: Buy between: $42.25 to $41.84 Sell between: $42.67 to $43.55 So this very short term 2 hr based chart trade is a good long opportunity for Lite Coin's day traders. Regards, Atif Akbar (moon333) The harmonic moves analysis involves hours of hard work and determination however the success of harmonic trading in fiat and cryptocurrencies is around 80% therefore it is always important that you follow any stop loss strategy while trading harmonic patterns I have also shared a stop loss idea in this article, the information in this article is for educational purpose only this is not intended to be investment advice, I have tried my best to catch the harmonic moves as per predefined classical harmonic bullish Shark pattern if you find any flaw or you have any suggestion feel free to share with me in comments section.
COINBASE:LTCUSDLong
by moon333
2
LTCUSD forming bullish cypher | A good long opportunity aheadAfter forming Shark pattern now th priceline of Litecoin / US Dollar cryptocurrency is forming last leg of bullish Cypher pattern and soon it will be entered in potential reversal zone insha Allah. This PRZ area should be used as stop loss in case of complete candle stick closes below this zone. Volume profile is showing less interest of traders at PRZ level but MACD is strong bearish and Stochastic is in bear cross so for secure trade we can wait for MACD to turn weak bearish or for stochastic to give bull cross then buy from the potential reversal zone. I have used Fibonacci sequence to set the targets Buy between: 55.78 to 54.57 Sell between: 56.74 to 59.03 Regards, Atif Akbar (moon333)
COINBASE:LTCUSDLong
by moon333
LTCUSD formed a bull Shark | Another buying opportunityAfter completing the bullish BAT pattern now the price action of Litecoin / US Dollar has formed a bullish Shark pattern and entered in potential reversal zone. This PRZ area should be used as stop loss point in case of complete candle stick closes below this area. MACD is strong bearish so for secure trade we can wait for MACD to turn weak bearish then buy. I have used Fibonacci sequence to set the targets: Buy between: 54.06 to 53.12 Sell between: 54.88 to 56.74 Regards, Atif Akbar (moon333)
COINBASE:LTCUSDLong
by moon333
LTCUSD formed a bullish Crab pattern | Upto 28% expectedBy the grace of Allah the most high after giving more than 29% profit as my previous idea: Now on smaller time period chart the priceline of Litecoin / US Dollar has formed a bullish Crab pattern and has hit the spike within potential reversal zone but MACD and Stochastic are still bearish therefore the priceline may give us another chance to catch it from PRZ area insha Allah. This PRZ area should be used as stop loss point in case of complete candle stick closes below this zone. I have used Fibonacci sequence to set the targets: Buy between: 63.55 to 58.97 Sell between: 67.10 to 75.70 Regards, Atif Akbar (moon333)
COINBASE:LTCUSDLong
by moon333