Get started
Litecoin / Bitcoin
Short

Litecoin finishing wave 2?

By ltc-joe
Updated
Could see a bit more downside before up, China is important to ltc as well so that can be an excuse.
Note
Bouncing here at .0155. At least for now.
Note
Going lower....looking for a hit of the first target
Note
Still expecting a reversal soon around .0161-.0162...if the price manages to sustain above this level then I will probably believe the bottom is already in.
Trade closed: target reached
snapshot
: )
Possible that is all we get or way may get a nice bounce before heading to target 2. Wouldn't count on it though.
Note
Yup, support retested on the 1h and looks like it held:
snapshot
Next obstacle is the blue descending trendline, above there and I think its fairly safe to say the bottom is in.
Note
Oh noes, support broke, next target coming!
Note
yup, access denied! Now former support made resistance, 30 min chart:
snapshot
Trade closed: target reached
snapshot
Thanks for playing.
Chart Patterns
ltc-joe

Related publications

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.