LitecoinLong
Litecoin Halving Last parabolic Leg to $183-190 Starting
Updated
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Since the LTCBTC pair could not keep up with the constant surge of Bitcoin in the past few days and weeks, we had to switch to Litecoin LTCUSD for more accuracy and better forecast of the timing. As you may have noticed for several days in our telegram channel, I have pointed to the 12H tight Bollinger Bands squeezing slowly on Litecoin LTCUSD.
Today the bands were ready and Litecoin is gradually breaking up to the upside for a big move to our final target of $183-190. A potential wick to $215 is still highly possible. Look t to sell fully at these levels and leave some Litecoin for cold storage!
Note: Confirmation is still needed with a break out pat $145. However that should come easily within the next few hours!
Since the LTCBTC pair could not keep up with the constant surge of Bitcoin in the past few days and weeks, we had to switch to Litecoin LTCUSD for more accuracy and better forecast of the timing. As you may have noticed for several days in our telegram channel, I have pointed to the 12H tight Bollinger Bands squeezing slowly on Litecoin LTCUSD.
Today the bands were ready and Litecoin is gradually breaking up to the upside for a big move to our final target of $183-190. A potential wick to $215 is still highly possible. Look t to sell fully at these levels and leave some Litecoin for cold storage!
Note: Confirmation is still needed with a break out pat $145. However that should come easily within the next few hours!
Trade active
We were very close to a confirmed break out past $148 until Bitcoin broke down from $11,200 to retest $10,200 which held nicely as buyers jumped in. Looks very likely to see Bitcoin surge to $13,000-14,000 should we manage to hold the current levels until the Monthly close. Till then I do expect Litecoin to break out as it is a month and 2 weeks away from its halvingNote
The blue rising wedge and the ascending triangle broke down here today and that's a slightly bearish sign. LTCBTC also in a clear downtrend as well which does not help. So far bears are taking over as well on this LTCUSD pair. And it seems likely to see some more consolidation and a retest of the support areas below before the last leg up to $183-215:
$131-129
$125-119
Note
Note
The 1D Midband at $131-129 has been hit and should hold us as support as it has held the past 3 times after which we surged each time. If we fail to squeeze back up on the 1D timeframe towards $145+ and hit our target at $183-215 then chances are we test the lower neckline at $125-119 which would not be very ideal.Trade closed: stop reached
1D midband squeeze failed. Bull neckline about to fail as well at $117 and ltcbtc heading deeper best is to bank some profit as a continuation of the halving rally as of now looks slim and unlikely.If anything changes I will advise.
Note
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