Litecoin - The Quest of the Ascending Triangle

Looking at the BIG PICTURE and the long term for LTCBTC we can see this beautiful ascending triangle we have been forming since early December 2017. I have two lines on the upward slope indicating 2 possible scenarios for this to fulfill.

Currently as we speak the DMI is oh so close to touching but the + is still on top. The ADX is above our signal line showing strong support of the trend, and the RSI is still holding on my upward line showing we are still seeing higher lows.

Keep in mind, this is LTC/BTC. So not to confuse anyone, but we can drop on this chart and the price of LTCBTC can still go up in dollars, all because of the price of Bitcoin . This shows growth with Bitcoin and how Litecoin reacts with it. Currently Bitcoin is going up and LTC is staying around the $185 - $190 mark and that is why on this chart we are dropping. (or vice versa, if Bitcoin price falls and Litecoin stay roughly the same price we will still Litecoin go up on this chart) This can be used as a good indication as to how Litecoin will react to Bitcoin and shows when we reach a certain level we can expect/ anticipate/ predict/ forecast/ etc. what could happen next.

We need to see LTCBTC bounce off the support here and see the Directional Movement stay as it is and NOT cross. This will help show strength in Litecoin and we should then begin to see stronger price movement perhaps back up above the $200 mark.

Thank you for taking the time to read! IF I get 15 likes I will post an update!

Happy Trading :)

Much Love


*all comments are welcome*

***This information is not a recommendation to buy or sell***
评论: Looks like we could be falling below the support line showing LTC and BTC are weakening... This shows us both prices are dropping and we could continue to drop to the next support level.
评论: Looking at LTC/USD, and BTC/USD... it looks as though we have broke down and are heading lower... Looking at this chart we can see we see we are heading towards the next support around .01829
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