Here is a short term trade for LTC. Currently LTC is getting traded at low volumes. Probably because of all the news in the media.
It broke out of the pennant (falling wedge) and currently hovering close to fib level 0.786. If it manages to surpass this resistance then it'd find resistance at fib level 1. Now that is close to 20 points high.
Looking at RSI,...
LTC/USD
cmp 348.
4h chart - consolidation in progress with a uneven cup pattern formation.
Right side of the cup has a series of HH and HL formation.
Price currently has formed a HL and waiting to spike.
400 plus target is highly possible.
LTC is in a pennant; similar to an ascending triangle formation. To me this is an indication of a bullish continuation pattern. If it breaks out of the ascending triangle then you may expect a decent bull run.
That said, my trade setup would be something like this -
Post confirmation:
Buy @ 334 - 338
Target ~438
Stop Loss ~300
Please feel free to revert with...
LTC / USD
cmp 298
target 350 plus
stop 260
1) Price has been consolidating after the recent spike
2) Consolidation pattern has formed a nice Head and Shoulders pattern.
3) Has the potential to go past 350.
4) Above 350, no resistance zone and hence open target.
This is going to be a risky short term trade. I see a flag formation in the 1 hr chart.
MACD is about to get into a +ve divergence.
The pole length is ~77 points.
In the 4hr chart MACD is still in a bullish divergence.
RSI is over bought, but my guess is it still has some room for buyers.
That said, I'd recommend to enter ~336
Target ~418
Stop Loss ~320
As...
LTC/USD
CMP 332.
Flag pattern visible in 4 hour chart.
Target is 400 plus which is the breakout point plus half of the pole length.
stop 30 period ema.
An attempt to use the 5 stages of bubble on Litecoin value during August to November of 2017. Also, marking the interval between parabolic peaks. Do we see a Fibonacci pattern here?
Very close to an ascending triangle. I'd attempt entry at A followed by B with stop loss at the lower line. Hopefully it'll breakout at the resistance all the way to target "profit".
LTC has been in correction mode for the last week or so with further down time expected towards its support at 35 USD. Its not yet clear how much of an impact a UAHF will have on LTC. Its move breaking the triangle formation will determine its semi-long term movement.
LTC is on the verge of a SegWit activation and has been highly bullish over the last week. I'm expecting a major upwards rise with targets of:
1) 11.42
2) 12.34
3) 14
