Litecoin looks very optimistic, however, due to Litecoin Cash pump I expect a thorough retracement atleast until Fib 0.618.
There was a clear double bottom for LTC and afterwards a nice pump into a 5 wave structure. It went right up to the point where it last collapsed 15 January shown by the upper red ball. The thick purple line shows that we break through the longer term bearish trend line, therefore I think we are in the correction of the first bull wave.
RSI is bearish down sloping
Buy; from 130 -113 euro (previous bearish trend line)
At the Fib levels, look for reversal trend signs in order to confirm and buy.
Requests for any euro pairs? Let me know in comments!
評論
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Okay guys, it has been a while for this update but it seems the LTC is in its C wave correcting to the target levels I set before.
交易結束：目標達成
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I have to work on my timing but, man it hits the target perfectly on the fib 0.618
交易結束：目標達成
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Be wary for another drop though. I do not rule out for LTC to hit the Fib 0.786 which goes well with the 17 January low as resistance.
I hope you are right, I position my self for more less the same as I want to buy back lower :) there is one uncertain variable here, LitePay release is behind corner. It may have huge positive and negative effect. Let's see.
kerstjens
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@Xante, i hope so too ;) Be patient tho, look at the big picture. As for the previous chart I made about the LTCEUR pair, it can take a few weeks before reaching it. I'm yet to learn about how to plot the expected time frame of a certain wave. In my opinion, we are going down again after this push of the last days to complete the ABC.
kerstjens
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@Xante, Litepay release delayed? Might be what we need ;
Xante
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@kerstjens, The bull flag is forming in LTC, so I’m not that sure anymore - but it will go up only if BTC will overcome own resistance and climb over 11k USD. Next few days will be crucial for all crypto market. There is too much risk now so I remain on sideline, I rather at will small spoon. Of course I would prefer that BTC will correct back to 6k and then I will be very bullish on LTC.
Xante
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@Xante, [edit]: I meant "I rather eat with small spoon"
kerstjens
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The only bull flag I see is broken in bearish way. Where do you see bull flag?