WHAT IS LITECOIN?
Litecoin is a peer-to-peer Internet currency that enables instant, near-zero cost payments to anyone in the world. Litecoin is an open source, global payment network that is fully decentralized without any central authorities. Mathematics secures the network and empowers individuals to control their own finances. Litecoin features faster transaction confirmation times and improved storage efficiency than the leading math-based currency. With substantial industry support, trade volume and liquidity, Litecoin is a proven medium of commerce complementary to Bitcoin.
In recent months back, I was widely bearish on the whole market. Litecoin went first. Led the trend down with success. Definitelly, here's remain some space for more downside, but in macro, when details not plaing a main role, finally creating pretty giant falling wedge, which is bullish pattern. I also drew FIBO for you to detect some green supports and red resistance areas in locar view at daily candles chart.
The main reason, why I change my sentiment is the blue double bottom pattern, thick yellow historical rising support near below, Q4 hype demand and death cross target filled . Usually, death and gold crosses has targets cca 30-40%, by my personal experience. More and more at LTC/BTC pair. There is bottom further in progress, with some of doji.
So while Litecoin will heading lower to green Fibos, could start some volatility, daily volumes and starting to be more " unstable ".
For bulls, I don't like to see a lot of closes below MONTHLY ema50 average. Especially months or weeklies.
Best scenario will be breakout to the upside by end of this October. Which is very near. MACD plays his bullish incline.
Altseasson can be really around the corner. At least, when we look at market cap excluding Bitcoin. So Litecoin and Ethereum, as the main representatives, could indicate first some of positive signs in early phases. But first, I wanna see more, with solid higher high.
Now I will wait , without trade ;- )
Will try to update , sometime.
I would like to underline, this is not a a "buy now analysis", exactly like the entire of my ideas.Still threaten more percents below . And I won't drop in here too much money. So always take it like my passion, thoughts, or education maybe.
*This is not a financial or investment advice. Never trade/invest, by my personal ideas.
Litecoin is a peer-to-peer Internet currency that enables instant, near-zero cost payments to anyone in the world. Litecoin is an open source, global payment network that is fully decentralized without any central authorities. Mathematics secures the network and empowers individuals to control their own finances. Litecoin features faster transaction confirmation times and improved storage efficiency than the leading math-based currency. With substantial industry support, trade volume and liquidity, Litecoin is a proven medium of commerce complementary to Bitcoin.
In recent months back, I was widely bearish on the whole market. Litecoin went first. Led the trend down with success. Definitelly, here's remain some space for more downside, but in macro, when details not plaing a main role, finally creating pretty giant falling wedge, which is bullish pattern. I also drew FIBO for you to detect some green supports and red resistance areas in locar view at daily candles chart.
The main reason, why I change my sentiment is the blue double bottom pattern, thick yellow historical rising support near below, Q4 hype demand and death cross target filled . Usually, death and gold crosses has targets cca 30-40%, by my personal experience. More and more at LTC/BTC pair. There is bottom further in progress, with some of doji.
So while Litecoin will heading lower to green Fibos, could start some volatility, daily volumes and starting to be more " unstable ".
For bulls, I don't like to see a lot of closes below MONTHLY ema50 average. Especially months or weeklies.
Best scenario will be breakout to the upside by end of this October. Which is very near. MACD plays his bullish incline.
Altseasson can be really around the corner. At least, when we look at market cap excluding Bitcoin. So Litecoin and Ethereum, as the main representatives, could indicate first some of positive signs in early phases. But first, I wanna see more, with solid higher high.
Now I will wait , without trade ;- )
Will try to update , sometime.
I would like to underline, this is not a a "buy now analysis", exactly like the entire of my ideas.Still threaten more percents below . And I won't drop in here too much money. So always take it like my passion, thoughts, or education maybe.
*This is not a financial or investment advice. Never trade/invest, by my personal ideas.
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Still in bullish wedge. I am waiting for the reaction with FIBO 382, or break to the upside whenever.
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This appears like breakout with today confriming as support. Daily morning doji plays for bulls .
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I expecting the breakout today or tomorrov. It could test 382 or 786 fibo by some time.
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Now formed in the descending triangle at 4h, below daily pivot.
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Or maybe... ;- )
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