Buying Litecoin at trend of higher lows.Litecoin - 24h expiry - We look to Buy at 90.51 (stop at 86.51)
Trend line support is located at 90.40.
We look to buy dips.
Short term bias is bearish.
Prices expected to stall near trend line support.
Daily signals are bullish.
Our profit targets will be 100.51 and 102.51
Resistance: 98.00 / 100.00 / 103.50
Support: 94.14 / 91.50 / 90.00
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LTCUSD.P trade ideas
✴️ Litecoin | A Closer Look At The Current CorrectionFour days Litecoin printed really strong bearish candles.
The green candle 30-June was even stronger.
Strong up, strong down.
Today we are seeing the first green candle after this retrace started.
Can Litecoin resume growing now or will it continue lower?
Let's see what the chart has to say.
I looked at the volume using other pairs.
While the volume 30-June is huge, the retrace volume is just average; One point in favor of the bulls.
All the indicators continue bullish and the bounce is happening exactly at EMA21 (a retest) and 0.382 Fib. retracement.
Seeing that similar action took place late June, it is possible to see Litecoin moving forward from this point.
It is still hard to say with certainty though because this is short-term.
What is easy to say with certainty is that we will get a higher high next... The retrace can become extended but the bulls are not done yet.
Regardless of the very short-term, we go up.
Namaste.
H1 Elliot Wave & IHSOn the H1 we can see the last arch / scallop details and add the EW points for this push & consolidation.
We are bouncing from the upper TL of the triangle for support, which coincides now with the 21D EMA (red). On the right, we have an IHS in the bottom pattern with tgt of around 99-100.
A new set of dashed ORG TL's have been added to track the descending part of this pattern.
Litecoin to $32 next-I can see this coin going to $32 fairly quick if this were to be the end of W4 and the start of W5. If price were to go through the (blue resistance line) then we will adjust the chart. Rejection has already happened at this line so we should expect downside coming. This downtrending channel has been going on since 2021 and is more than likely going into 2024. Once W5 is complete we should be able to capture plenty of gains, but we have to stay patient.
I would not be a buyer of this coin.
Rainy Outlook for LTC? 🌧️ Litecoin (ahead of its halving in less than a month’s time) faces cloudy if not rainy trading conditions ahead 🌧️, indicating a bear market with a downside risk. The same goes for XRP.
On the other hand, sunny weather ☀️ with a few scattered clouds ☁️ is ahead of the global crypto market in the next 24 hours and one-week horizon. This signals a slightly bullish market with upside potential.
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Litecoin presents an interesting setup After finding its low at $40.32 in June 2022, Litecoin rose over 160% within the span of a half-year. However, since the February 2023 high at $105.69, Litecoin’s price trend has been erratic. Litecoin has been oscillating between the two converging bounds, forming an interesting setup that caught our attention. For now, we would like to stay out of the market and observe the situation. Ideally, we would like to wait for the price to approach one of the boundaries of the formation and then assess the opportunity.
Illustration 1.01
Illustration 1.01 displays the daily chart of LTCUSD. Two converging lines can be seen forming a pattern that resembles a symmetrical triangle.
Technical analysis gauge
Daily time frame = Neutral
Weekly time frame = Slightly bearish
*The gauge does not necessarily indicate where the market will head. Instead, it reflects the constellation of RSI, MACD, Stochastic, DM+-, ADX, and moving averages.
DISCLAIMER: This analysis is not intended to encourage any buying or selling of any particular securities. Furthermore, it should not be a basis for taking any trade action by an individual investor. Therefore, your own due diligence is highly advised before entering a trade.
Litecoin (LTCUSD) Short Term Support AreaLitecoin (LTCUSD) shows a bullish sequence from 6.14.2022 low favoring further upside. Short term, rally from 3.11.2023 low is in progress as a 5 waves impulse Elliott Wave structure. Up from 3.11.2023 low, wave 1 ended at 103.41 and pullback in wave 2 ended at 71.37. The crypto currency has extended higher again in wave 3. Up from wave 2, wave (i) ended at 78.43 and pullback in wave (ii) ended at 75.73. The crypto currency extends higher again in wave (iii) towards 88.79 and pullback in wave (iv) ended at 84.48. Final leg wave (v) ended at 93.80 which completed wave ((i)). Pullback in wave ((ii)) ended at 81.84 with internal subdivision as a zigzag Elliott Wave structure.
Down from wave ((i)), wave (a) ended at 86.48 and rally in wave (b) ended at 90.25. Wave (c) lower ended at 81.84 which completed wave ((ii)). Litecoin then turns higher in wave ((iii)). Up from wave ((ii)), wave i ended at 103, pullback in wave ii ended at 89.38. Wave iii higher ended at 111.22 and dips in wave iv ended at 102.74. Wave v higher ended at 114.92 which completed wave (i). Pullback in wave (ii) is in progress as a zigzag Elliott Wave structure. Down from wave (i), wave a ended at 105.1 and wave b rally ended at 109.69. Expect wave c lower to complete at 93.7 – 99.8 which should end wave (ii) in higher degree. As long as pivot at 81.84 low stays intact, expect buyers to appear at blue box of 93.7 -99.82 for further upside.
LTC Gains Momentum 🌞🚀 XRP's Stormy Forecast 🌧️?The crypto summer shows no signs of abating any time soon ☀️, according to ATTMO. Sun with a few scattered clouds - a slightly bullish market with upside potential - is likely over the coming hours and a one-week horizon.
Litecoin and XRP buck this positive trend with rainy weather ahead in the next 24 hours, which signals a slightly bearish market with downside risk. Over a one-week horizon, Litecoin may continue to rise ahead of its halving, while XRP may continue to be under pressure, ATTMO indicates.
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1st of 3 ltc targets hit!The $90 target from the smallest inv h&s (with the cyan neckline) has just been hit! We now have 2 more left to hit. And in hitting the tallest one it will take us up above the magenta trendline which will put into play an even higher possible target…until that happens we will not include that 4th potential target on the chart but probability is starting to favor that 4th target. As always when one target gets hit a retrace is very possible..we can already see a bit of a wick has formed..hard to say how much of a retrace will occur before it continues towards the second target though *not financial advice*
LTCUSD has formed a higher 2nd inv h&s necklineWhich of course adds a second even higher breakout target than the 1st one. It just recently retested the line as support and has been bouncing up from the retest which is what I’ve been waiting for to ensure the neckline was a legitimate one. It’s breakout target is the green one. At $106 *not financial advice*
The seven year squeeze? Part 2Looking good! Did I mention I liked this setup?
Cheers, all.
Happy 4th!
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I posted this the other day recommending you draw these lines on the weekly for yourselves and look across different time frames. <-- I still recommend doing this. It's an interesting chart.
Anyway...
It's also interesting that litecoin didn't make a new high along with the other coins in the last few years... or is it?
I like it.
I like it a lot.
LTCUSD: Uptrend Formation within Emerging TriangleThe LTCUSD pair has been displaying a consistent upward momentum, marked by higher highs and higher lows, suggesting a bullish bias. Concurrently, a triangle pattern has emerged on the price chart, signaling a period of consolidation before an expected breakout. Such formations often precede significant price movements, making them an area of interest for traders seeking potential profits.
The suggested targets ( pivot points) for this trading idea are as follows:
Target 1: 114.37
Target 2: 124.48
Target 3: 143.69