LTC - I got one LTC in my pocket, the other one's giving high 5
Stumbled upon some LTC. I'm deciding to keep it in my pocket for a while. So why not share my decision with the community on Tradingview?
Target 1: $750
Target 2: $2000
This is OccultMagnetism. Read about it at www.occultmagnetism.com
www.youtube.com/watch?v=CUjIY_Xx...
Target 1: $750
Target 2: $2000
This is OccultMagnetism. Read about it at www.occultmagnetism.com
www.youtube.com/watch?v=CUjIY_Xx...
코멘트:
Zoomed in:
코멘트:
Look. Bounced exactly on a supporting ring and went back to the last supporting trendline at $143.9.
코멘트:
This is good. It gives strength to the Fibonacci pattern that target 1 (at $750) is a part of.
코멘트:
Zoomed out a bit more:
코멘트:
Hitting next trendline...
코멘트:
코멘트:
Filled up. Trying to break above 200 hour candles moving average (blue line).
코멘트:
Blew through the moving average... Rocketing towards the next ring (marked in red) where another significant moving average (purple line) is hanging around. If it move above that level and is stable I think the LTC will get his strength completely replenished, which should result in a full blown bullish move.
코멘트:
OMG there moving averages are so good to use together with OccultMagnetism... I'm two times more sure about stuff in general it feels like. Without OccultMagnetism moving averages are like a limp old man. They are practically made for eachother.
코멘트:
There will be a noticeable resistance at $190 level.
코멘트:
코멘트:
I think this sudden big rise in LTC is very temporary thing and that it will will retrace down again (base on looking back in time how it behaves when it rises it's not a normal rally). I think this rally is delusional. Also we have the $190 level that it hasn't reacted to yet (marked in red in the chart above).
Note that this is not trading advice!
Note that this is not trading advice!
코멘트:
In the long run the target is still $750 and $200.
코멘트:
$2000 (not $2000)
코멘트:
....... not $200.
코멘트:
I think it will retrace to $190
코멘트:
LTC is fond of my trendlines.
코멘트:
Now it has visited $190 again.
코멘트:
코멘트:
Hitting a support at $190.
코멘트:
Looks like it bounced exactly on hte support.
코멘트:
코멘트:
코멘트:
Will it continue to go sideways for a while?
코멘트:
Clearification: I see a risk of it getting stuck in this stream pointing to the right... This would not be a good thing because of the packed (small distance between) rings at the right end of the purple arrow, meaning it could even go down after that. So we'll see if it gets stuck in this "steam" of trendlines or if it manages to break upwards.
코멘트:
If it continues up it is likely to top at $166.6
코멘트:
$164.8 pretty close.
코멘트:
It can still go both ways. I don't know. It's just a resistance there.
코멘트:
코멘트:
코멘트:
Resistances marked in red, support in green.
코멘트:
My LTC pattern is now completely invalid. LTC is ignoring the rings. I suspect I will come back with an analysis for LTC after the summer. LTC is moving sideways until August (probably).