Litecoin is about to form a W in RSI at Daily chart.. This is very bullish. Bitcoin is also forming a W. and as Bitcoin moves beyond 61k, Litecoin may start moving up..
Litecoin is making it's first green Heikin Ashi candle after 11 red ones on the weekly. Is it getting ready for a move up for the 5th wave?
Lemme know what you think in the comments below.
The price can move either side
But most probable down because
Price break down trendline and
Start consolidation mean seller want
Sell lower and buying pressure is exhaust
Keep learning and earning
with long triangle formation ltc has broken out
lets wait for retest at 204-205 buying levels with sl of 197.50 and target of 212-213
ltc has lately giving big spikes moves so maintain proper and sl and target is must to avoid slippages
as we had the discuss that lite coin was consolidating and forming the inverted head and shoulder, though it was not perfect but had good breakout candle
there is a possibility of price coming back to neck line as a retest and we can enter or add more quantity as per risk
changed in stop loss moved up
after the head and shoulder did not give us the breakout and i tweaked the stop loss to 169 to avoid the sudden major fall
LTC big players accumulating, look at the volumes and price movements, price is not able to break upper trendline and is not falling for a breakdown either, too much competition between bulls and bears, bulls will definitely win!!!!
According to all the resistance and support of the past, we can conclude if it breaks $230 levels then it may go up in short term. Its just an prediction, invest on your own wisdom.
For buying:--
When price brack upside of the zone and come back for retesting of zone area and again show bullish segment then I can open a long position ||
For selling:--
When price brack downside of the zone and come back for retesting of zone area and again show bearish segment then I can open a short position ||
{(Note:- Most likely the market will go Long side)}
