Haceru
做空

LTC - breakout within the next few days

BITSTAMP:LTCUSD   莱特币/美元
LTC has been trading inside a symmetrical triangle ever since it`s ATH             of $375 on the 19th of December. Mostly it was following the BTC             price, but with less intricacies (kind of "wait and see" approach). I am expecting a breakout of this triangle in the next couple of days - no more than by week`s end. Where to ... that is a difficult question. Those triangles are difficult to predict since they can break either up, down or sideways. However, the chart has a few "clues" about what is the most likely scenario - down.

The price at the current level is sitting just on the 30 day EMA and at the 0.5 Fib retracement level of the last bull run, on the lower wedge of the triangle. It can also be seen the wave count a-b-c-d which points to the e point (breakdown) happening at a lower level, towards the down side. The indicators are all going down ( MACD and RSI ) but what is most important when it comes to analyzing those triangles is the volume . Since the triangle formed at the top of a long term up trend, the volume at the tip of the triangle is the most important "clue" about what is about to happen. If we have very strong volume (higher than at the beginning and the middle) then most likely the triangle is a continuation one and the price will break towards the upside. However, if the volume is low and constantly decreasing throughout the formation of the triangle, it indicates a reversal triangle and the price is most likely about to fall, for a further correction.

Levels to watch are $308 (0.23 Fib level) for an upside breakout or $150 (0.78 Fib level) for a downside breakout.

Of course anything can happen and any FUD / hype news affecting the BTC             will impact the other crypto-coins (LTC included) however this is what the present chart is telling me. As always, this is not a trading advise but just my personal "reading" of the charts.

Good luck all and enjoy trading !
评论: On the hourly chart, we are at the "battle" point - price meets both the Fib level of $233 and the trend line support. Let`s see the outcome:
评论: On the same hourly chart we have a very nice breakout followed by a big red candle meaning confirmed breakout. However, I am still waiting for the 4h chart confirmation, since we can have a bear trap there. There was a massive selloff all across the board - BTC, LTC, Ripple, etc. so let`s see what happens next
评论: The breakout did happen, actually within few hours from posting the idea, not even days ... We had a major sell off across the board and in our case LTC stopped for the moment around $185, a little under the Fib level of $200. After the normal retrace up, let`s see if it will reach our target of $150sh
{image]https://www.
评论:
评论: Within a day, LTC is close to the previous low at $173. Let`s see if it will reach the predicted $150sh levels
交易结束:到达目标: Target reached @$149.23. Thank you
With the LT Stoch RSI having just turned up not down an educated guess would be a move to the upside but it's really a flip of the coin here. Great charting. Thank you
+1 回复
Haceru london55555
@london55555, I understand your point about the RSI, however is not an end-of-day "up" yet; also it is still under the previous high, thus is an longer time downtrend. But like you said, it is really a 50-50 chance for either side (not to count the side-way :) ) Thanks for the comment, as always :)
回复
@Haceru, That's a valid point but when an asset trades 24/7 365 im not sure when "end of the day" is to be honest. LOL
+1 回复
Haceru london55555
@london55555, LOL, good point :) ... it would be interesting to see if there is anywhere such an analysis as when are the most "active" times for this market, to be considered as "time stamps" with their "down" times as well
回复
@Haceru, If there isn't just wait a minute and one will probably be invented LOL
回复
ZH 简体中文
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 繁體中文
AR العربية
首页 股票筛选器 外汇信号搜索器 加密货币信号搜索器 财经日历 如何运作 图表功能 网站规则 版主 网站 & 经纪商解决方案 插件 图表库 功能请求 博客 & 新闻 常见问题 帮助 & 维基 Twitter
个人资料 个人资料设置 账号和账单 我的支持通知 联系支持 已发表观点 粉丝 正在关注 私人消息 聊天 退出