LITECOIN COILING UP. READY TO BREAK OUT?
GOOD MORNING STEEMIT!
I talk a lot of Bitcoin, but not enough Litecoin. I need to change this and today is the day. I’m on a bit of struggle street with 1,000,000 things hitting me at once and now the fucking flu. But as we know, the show must go on.
Let’s do this shit.
It’s always the same thing when it comes to my market analysis and as such, we start with the higher time frame chart and go from there. Bring up your Litecoin daily chart and we’ll go from there.
LTC/USD Daily
As we’ve spoken about the last time we compared Bitcoin and Litecoin, Litecoin has been massively bullish as of late. Highlighted by the fact that Litecoin hasn’t broken out of the daily trend line resistance, while Bitcoin hasn’t.
LTC/USD Hourly
Now zoom into an intraday chart and get keen. Look at that JUICY triangle that is just busting to break out and continue higher!
With that horizontal previous resistance level holding as support below it and not even being tested, it’s an exciting prospect.
Best of probabilities to you.
Peace ✌🏻.
Instagram: @forexbrokr
Website: www.forexbrokr.com
Up, Up, Up, all I want to see is it going up!
Hey mate, don't we all! :D
Can I ask what it means to be right leaning spiritually?
I've given you a follow and will hopefully see you around :)
Best of probabilities to you.
Thank you. Hopefully see you around on the blog some more in the future :)
I have lost a lot of money trading Crypto, I think I need to be patient
Well that's not a good thing to hear, Tommy.
What have you been trading and what has been your strategy? If you'd like to speak more, find @forexbrokr on Twitter and send me a DM there.
I will follow you on Twitter!
What do you think of the value of comparing this chart to a similar one for the LTC/BTC pairing? This is a hypothetical question, LTC already broke out on last hour's candle.
It's not a chart that I've paid much attention to, but there is definitely value there if you can find a correlation.
Do you watch LTC/BTC? Do you find that it leads LTC/USD?
LTC is ready to moon 😊
Do you think it needs BTC to go first?
Congrats and great call, you are right on the money! Where do you think resistance is short term? Back to about 228? Seems to line up nicely on the chart and deliver those short bursts. The other alts are not performing in a similar fashion.
Yeah, or just that swing high in the 240 zone.
It shows how strong LTC is, that it is moving up alone, independently from the alts and even BTC. Great sign.
Litecoin will continue going up and BTC breaks out of an inverse head and shoulders pattern and moves the market with it. LTC will meet resistance at around 370 but will continue to 600 within the next few months.
I've spoken about that BTC/USD inverse head and shoulders pattern on my blog too. I hope that a breakout of that pattern on BTC will bring the entire crypto market, including LTC, up with it.
Agree, Litecoin going up more short term.
I guess you haven't heard of http://coinmetro.info Price projections: https://xcmprice.com
etc..
I guess you haven't heard of spam.