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 occultmagnetism.com
youtube.com/watch?v=CUjIY_XxF1g
Target 1: $750
Target 2: $2000
This is OccultMagnetism. Read about it at occultmagnetism.com
youtube.com/watch?v=CUjIY_XxF1g
הערה
Zoomed in:הערה
Look. Bounced exactly on a supporting ring and went back to the last supporting trendline at $143.9.הערה
This is good. It gives strength to the Fibonacci pattern that target 1 (at $750) is a part of.הערה
Zoomed out a bit more:הערה
Hitting next trendline...הערה
הערה
Filled up. Trying to break above 200 hour candles moving average (blue line).הערה
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. הערה
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.הערה
There will be a noticeable resistance at $190 level.הערה
הערה
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!
הערה
In the long run the target is still $750 and $200.הערה
$2000 (not $2000)הערה
....... not $200.הערה
I think it will retrace to $190הערה
LTC is fond of my trendlines.הערה
Now it has visited $190 again.הערה
הערה
Hitting a support at $190.הערה
Looks like it bounced exactly on hte support.הערה
הערה
הערה
Will it continue to go sideways for a while?הערה
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.הערה
If it continues up it is likely to top at $166.6הערה
$164.8 pretty close.הערה
It can still go both ways. I don't know. It's just a resistance there.הערה
הערה
הערה
Resistances marked in red, support in green.הערה
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).
כתב ויתור
המידע והפרסומים אינם אמורים להיות, ואינם מהווים, עצות פיננסיות, השקעות, מסחר או סוגים אחרים של עצות או המלצות שסופקו או מאושרים על ידי TradingView. קרא עוד בתנאים וההגבלות.