LTCEUR trade ideas
LTC fighting strong into the bull zone!!! LTC is really strong lately, with heavy breakout following EXACTLY the ascending canal for months now. !!!
The RSI stoch are entering the 80+ area:
"Signal de sur achat ou de sur vente : quand le Stochastic RSI est au dessus de 0.80, alors la valeur est considérée comme sur achetée et une correction à la baisse pourrait intervenir dans le futur proche."
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"si le Stochastic RSI est en baisse et franchit le niveau 0.80 tandis que le cours de clôture est en hausse, alors cette divergence peut être interprétée comme un signal de vente."
www.axialfinance.com
2 scenarios:
a) we break higher with a lot of volume, if BTC keeps pumping/ranging and bring back some FOMO
b) the main resistance at 105e doesn't break yet, and we retest the 80e support where I'll put some buy orders with pleasure. IMHO bullish here, even though a possible bull trap with BTC could hurt I really don't see us bellow 65e/70e for 2019.
So I advise you to sell with those targets: 100e, 115e, 125e.
LTC ready to test MAJOR resistances before take offLTC/EUR seems ready to explode, but it may not happen at the first attempts.
I'd recommand to sell as soon as we enter the 80 to 100e area.
Will rebuy if we don't breakthrough.
If we manage to close this week or the next ahead of 110e, get ready for EXPLOSION!
Wave 3 started.I see LTC heading towards 100s region, to the 109€ hopefully. Consistent with my previous ascending triangle analysis, it is still leading to the same conclusion. The wave 2 was false breakout in terms of triangle as volume is low. Highest width of triangle takes you to 105€. So it’s very consistent with Elliott. Let’s wait and see.
P.s I’m not your financial advisor, just stating my opinion based on my personal analysis.
Ascending triangle about to breakWe can see an ascending triangle about to break. This is a bullish indicator. Will wait another day and monitor closely. The resistance horizontal line becomes support, which is around the 23.6 fib level of the ever high to the most recent lowest level at 88€. I expect price will break by same highest width of the triangle, which means towards 102-104€.
LTCs retracement before another move upLTC had a well respected resistance at 45 EUR, and it managed to brake above it!
Right now I have outlined a channel (Light blue trend lines) in which LTC is moving in for the past 44 days.
Right now LTC has made a Double Top pattern. That could lead LTC to retrace back to the support at 45 EUR.
I am looking forward for an Entry at the 45 EUR zone ( Green circle ) . Just need a comfirmation for the Entry.
DANGER! Careful with daily multiple bearish divergences!!!I've noticed LTC is about to drop hard. Daily RSI is diverging heavily from price. It has diverged four times, so it will necessarily drop.
This is not financial advice. I won't be responsible of anything if you base your trading in this idea.
Have a good day. =)
