Litecoin — It Strong Like BULL! (LTC)

Welcome friends, to this update analysis on LITECOIN! I've got to say, the Litecoin bull is BACK baby! And I'm loving every second of it. Everyone was calling me a permabear on the downhill slide, but Magic put's his bull hat on real quick, when the time is right. Shall we?

Looking at the four hour LTC chart, you can see that LTC is attempting to breakout of the bull flag that I gave you yesterday, in a move that will likely take it up to the top of the new uptrend channel (in pink.) You can see that there is also a bull flag target up at the 23.6% retrace. The target will only be valid, if we see a breakout above the highest point of the flag. Honestly, I'm very bullish on LTC at the moment, but if you look at the bull flag-like patterns on the chart here, many of them look like bull flags, but produce failed breakout attempts. I think this one is different though. We have formed a clear bottom, pretty much exactly on my downside target of 106, we've broken higher from a large inverse head and shoulders pattern, and formed a new uptrend. These are all confirmation signs of bottoming action in LTC. As I'm typing this, LTC is breaking above the top trendline of my bull flag , so it's clear how strong LTC is. I don't usually talk about fundamentals, because I believe that they are only background noise, but there are a lot of strong fundamentals for LTC at the moment. You have Litepay, which everyone has been raving about, and the hard fork that will produce Litecoin Cash ( LCC ) on Sunday. Owners of LTC will receive 10X that amount, in LCC , upon the launch of Litecoin Cash. So, obviously people are trying to get their hands on LTC, so that they can obtain 10X the LCC . I know Charlie Lee said it was a scam, and blah blah blah. We'll have to see what happens after the fork. On the upside, look for the top of the pink channel to act as resistance. The bull flag target is way up there, but that doesn't mean that LTC will travel in a straight line to it. We may trade in this channel, until we get to that level, so keep that in mind. Personally, I think there is a good chance that LTC breaks above this channel, but that's just speculation. ON the MACD , you can see that we crossed over bearish , but it's about to cross over bullish again. On the downside, the 20 EMA (in blue) is rising into the flag, and should be supportive. Good luck trading everyone, and be safe when you obtain your LCC! Long live the BULL!!!!

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-

評論: Here is the chart, where I informed you that the bottom could have been in, for LTC!

Anyone know if Bittrex will be supporting LCC, such that I can leave my LTC in Bittrex for the snapshot and a BTC/LCC trading pair will appear relatively soon after the fork? I would strongly prefer to use Bittrex for holding during the snapshot because I want a stop loss set a few min before incase there is a dump. I know Mercatox is publicly supporting the fork, but I'd rather not send everything there.
@MagicPoopCannon funny you said Strong like Bull. I was going to post "Strong root Daniel-san!"

Thanks for the analysis, I've been charting that long 2.5 month wedge from the last peak price and it's been bouncing off it getting ready for the up or down break.
any update?
Really appreciate all your work! Hopefully your advice helps me pay for some renovations for my house :p
I thought you were one of those permanent types but when you called the reversal in coins and turned Bull I realised, no, this annoying guy is the real deal. Good job :D
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AndrewBth AndrewBth
Edit permanent=permabear :)
You are a f******g bright?! Thx a lot Man, you're just saving my life
+1 回覆
MAd SKILLS!! Any TA books, top theories, technicians you can recommend for those who want to learn?
Thanks for sprinkling us with the magic poopery
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Magic poo man, keep droppin these bombs like turds falling from the sky.
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LTC has closed at the top of the bull flag, is it using the H & S target of $227 as a support level? Ready to push off to pierce the upper pink channel line and fulfill the bull flag upside potential? Sleep tight peeps, tomorrow is a (bright?) new day. Thanks, Poop!
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