Glitter, Cupcakes, Rainbows, and Butterflies — Litecoin! (LTC)

Hi friends! I'm not sure why I was banned, but I'm back, and I promise I'll be a good boy. I would like to welcome you to this ever-so friendly, unoffensive, kind, warm, and loving analysis on Litecoin! Let's jump right in. Looking at the four hour LTC chart, we can see that after breaking above the "critical support/resistance level," LTC failed to hold, broke down, and is now trading lower. We can see that LTC sustained a bear flag breakdown, as it's from a large inverted pennant formation. We also can see that the breakdown occurred as soon as LTC made contact with the 50 EMA (in orange,) which has been very reactionary thus far. Going forward, the 50 should continue to provide substantial overhead resistance.

Currently, LTC is grinding down the top of a small downtrend channel (black dots.) If we break back into this small downtrend channel , LTC could find initial support at the pink trendline . Below that, we have the 78.6% retrace, the bottom of the small falling channel , and then the bottom of the big blue channel.

Ultimately, LTC is trapped in this big downtrend channel , so, technically, the bears are still in control. Looking at the MACD , we can see that it just produced a bearish crossover, increasing the likelihood of an expansion in sell-side momentum. Volume is weak, and producing a low trough (red arc,) which in the past has preceded a corrective move. In addition to the low volume troughs, they end right when the MACD is crossing over bearish . That is exactly what we have right now. If this pattern is to repeat itself, a corrective move should follow. Pixie dust and fairies be with you.

This has been your not-so-humble market wizard, droppin' knowledge like bombs in this place! Please follow, comment, like, and share on social media. Good luck trading everyone!

***This information is not a recommendation to buy or sell. It is to be used for educational purposes only.***

-MPC loves you-

$105 here we come.

Great work MPC.
Awesome, thanks man!
Your LTC “Glitter, Cupcakes...” title is hilarious, poking fun at those who frown on your exuberance.

You are TradingView’s ultimate color commentator. CNBC should take a look at you!
+2 回覆
I think a lot of moderators are invested in ripple and because of the titles on your ripple forecasts they banned you. I once said ripple is a very irresponsible investment because 1 it is not decentralized 2 there are cheaper and better solutions for banks out there 3 and hence a future for it is illogical. Then suddenly my post needed moderating for hours before it got posted
The hero we need!
+2 回覆
I just got here and have seen 2 of your charts. You seem a bit sarcastic, which is OK with me. Nevertheless, sarcasm can be interpreted as insulting to some people. Especially snowflakes. Got to be careful. Maybe that’s what happened. Maybe some delicate flower got triggered and had to run to a safe space to get away from the adults. Hold your course. JMHO
+1 回覆
@MaxBlue, Agreed, but these snowflakes need to melt away. Don't fight the tape... or in millennial parlance: Don't be hating.
You the shit poop
+1 回覆
MPC, you rock. Whoever banned you is lame.

I dont get what up with LTC lately. Based on how widely it's used as shown on it is not reflecting its real value.
+2 回覆
What happened? Why did they ban you?!? Hope this does not happen again!
+1 回覆
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