BallsOfSteel32

BallsOfSteel32

Ltc appears to be forming a bearish pennant on the 4 hour chart. It looks like it will fall and form a double bottom on strong weekly support between 45 to 41. Short to 45 or lower.

BallsOfSteel32

This descending broadening wedge will likely get a test if the square in the chart is broken. I am expecting another long opportunity after the rejection from 17,500ish Last time we had 17,500 it was a very lucrative trade relative to the timeframe. No financial advice, for fun

BallsOfSteel32 Updated 

Potential elliot impulse wave within this rising channel. For fun, not financial advice.

BallsOfSteel32 Updated 

I don't think this level will break, but I will be monitoring price action around the 19,500 support area. Expecting a bounce off of the 2017 High. If it breaks, hold onto your hats. Not financial advice.

BallsOfSteel32

BTC is trading in a rising channel. I expect a retest for support that coincides with the .618 fib from this most recent impulse. Retest around 22,400, followed by impulse to around or 26,500. NFA For fun.

BallsOfSteel32

Looks as though btc has completed a textbook elliot wave ABC correction. btc is currently moving within this pitchfork. The bottom of the pitchfork is lining up with an area of demand. I think a return to 47,000 is likely. somewhere in the next 2- 3 weeks is my guess. This is not financial advice. This is for my reference and record as a hobby trader.

BallsOfSteel32 Updated 

Check the Chart Top trend isn't valid, but i'm watching it. just a thought. Not financial advice For my reference and record as a hobbyist trader. Im a Newb.

BallsOfSteel32

This may be a loose ABC correction. However, it appears to be completed and a new up-trend is in. Rsi and Stoch Rsi suggest and minor pullback before more continuation up. Im looking for LTC to pullback to around 119, before advancing to 143, the next overhead resistance. Not financial Advice. This is for my reference and record as a hobbyist trader.

BallsOfSteel32 Updated 

We are at a strong area of resistance. Will it be 48k or 38k? In either scenario, I see a back-test to 42k.

BallsOfSteel32

Posting this idea at this time because we are at a major resistance. Green arrow is bullish case. Red arrow is bearish case. Do we reject and head back to support, or do we break resistance and find a new support? This is not financial advice. This is for my record and reference as a hobbyist trader.

BallsOfSteel32

The support from the 106 area has been strong and has been tested several times from January '21 to February '22 (Green Arcs). LTC might be looking to test this area once more. The bullish case is the green arrow with a target around 203. The bearish case is the red arrow with a target around 78 if 106 support fails this time around. What do you think will...

BallsOfSteel32

August '17 structure looks very similar to May '21 structure In both cases as it stands, there was a large peak, and then a second smaller peak, both bottoming out on a support that was acting as the major resistance in the bear market. In Both cases the resistance was flipped and tested as support twice. If the current area of support around 105-109 holds, we...

BallsOfSteel32

Looks like last correction was a ABC and is done. BTC supported by rising trendline going back to October of '20. Stochastic RSI is at bottom. Pump is impending. People are fearful. Strike while the iron is hot. Not financial advice. This is for my record and reference as a hobby trader.

BallsOfSteel32

LTC looking to make a move toward the upper bound of this triangle forming. Target is somewhere around 230. Not sure on the timeframe, but likely over the next 4 or so weekly candles. I am a hobbyist trader. This is not advice in any way.

BallsOfSteel32 Updated 

Ltc is sitting at an interesting place. At the time of this idea, LTC is sitting just above the .618 retracement level of the initial monthly impulse. This was an area of major resistance in june of 19, and was broken jan 21. now it is being tested for support. RSI has a rising channel and is low in the channel. I think if this monthly candle closes green, ...

BallsOfSteel32

Ltc bounced at the .618 fib retracement level. Also coinciding with a rising support. This is where I expect local bottom to be. Not advice, just a hobbyist trader making squiggly lines on chart.

BallsOfSteel32

This retracement is necessary in my opinion if ltc is to continue its upward momentum. If this doesn't hold, the .382 level likely will. Trade with care.

BallsOfSteel32

Ltc is at a very deep low in it's btc pairing. The coin looks ripe for growth against btc. Possible Double bottom setting up long term. Curious to see how this plays out in the coming months.