Litecoin at crossroads: 1 hour timeframe analysis

in cryptocurrency •  11 months ago 

Litecoin price chart shown in this analysis is a 1 hour time frame from August 4, 2018.

Litecoin Chart.png

Price action from September 4, 2018 to date is described using as a symmetrical triangle; a chart pattern that ideally indicates stalemate between demand and supply.

~$62.36 and $50.48 are indicated as price levels to pay attention to as a break above the former implies resumption of bullish strength, while a break below the latter indicates further lower prices in Litecoin.

The width of the chart pattern is valuable in providing a minimum estimate for projection of the price following a confirmed breakout.

Interested in Bitcoin analysis (BTCUSD)? Check out our previous work below
https://coinanalyst.investments/2018/10/15/bitcoin-analysis-8/

Moreover, XRP chart analysis (Ripple) can be found here:
https://steemit.com/trading/@cryptotrader0029/ripple-analysis-today

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All these charts never make sense to me. How does this influence the price going forward 💯🐒

It does not meant to influence price going up. It is meant "paint a picture for you" so that you do not lose money you invest. More details can be found via the website on my profile. Thank you

Thanks will take a look when I have a minute. I only have a few hundred invested can't afford any more at the mo. Thanks again 💯🐒

You are welcome and it is better to have a plan going on for you and also be able to step back and look at a longer timeframe when smaller time frames present a much of a challenge

Sound advice 💯🐒