Litecoin (LTC/BTC)

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Seasonal Similarities Abound

Will LTC drift lower into the holiday season?

There has been a lot of seasonal similarities over the past 3 years. A repeat of the last 2 years has LTCBTC chopping lower towards a low in the holiday season. It suggests longs will be rewarded with at least a relief rally.

Invalidation of the idea would trigger conditional orders at the 2 blue horizontal lines. Buying with momentum can profitable and great cost opportunity to not waste your time.

Disclaimer

Litecoin (LTC): Another Fakeout?

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Click Chart to Enlarge

 

Litecoin (LTC): Another Fakeout?

 

A quick look at everyone’s favorite pet rock, Litecoin (LTC). The LTCBTC ratio is about to enter into overbought therefore it has some momentum on it’s side. Sadly there is a lot of similarities between the last fractal and if the bears are going to continue this action then we are currently located at the green flag on the chart.

 

The anatomy of this trade is to take seriously that the weekly chart is almost overbought. The lack of movement is concerning so there could be one last push to oversold before a bull market can begin. Rather than gambling it seems as if the safest trade is to average in once it starts to breakout of the horizontal resistance a pinch above 0.00652 ish.

 

Charts are powered by the SCMR Analysis Suite on Tradingview.com

BTC Tip-Jar: 18BBg2dhuvxqwoH9u1sVeEwMgMqESAZ79a

Disclaimer: http://www.coinstreetnews.com/disclaimer/

LiteCoin Bitcoin

Litecoin (LTC)

Litecoin
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Litecoin

 

Though the LTC:USD pair tends to move with the price of BTC:USD, the LTC:BTC pair does not. It has been getting pummeled through out this Bitcoin bull market. The 2 horizontal yellow rectangles are the only times LTC:BTC has had a 100% retrace of a large scale move. The price is falling back into the support zone. However, considering LTC’s recent history it may only have a small bounce before making new lows.

The trade is waiting for the price of BTC to top out and then play the bullish LTC:BTC waves upwards. One could take a small position inside this box the price is selling into now, but the week is far from over and caution should be advised with BTC:USD breaking above resistance from the last sell off.

Charts are powered by the SCMR Analysis Suite on Tradingview.com

June 30th, 2016

LTC BTC

LTC/BTC

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Click Chart to Enlarge

LTC/BTC

The LTC/BTC ratio is recovering from a sharp sell off in much the same way as last time. The blue candle from yesterday is an unconfirmed reversal, and as you can see the price is above the daily cloud.

 

Since price is right up against resistance it is more safe to enter on a breakout above the trend and to add to the position if a higher low is confirmed after the breakout has a short term retrace.

 

Charts are powered by the SCMR Analysis Suite on Tradingview.com

May 31 2016

Litecoin to Bitcoin Ratio

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Click Chart to Enlarge

LiteCoin to Bitcoin Ratio – LTC/BTC

The general sentiment is that LTC is ready to move up again. If so that means BTC should do well too, and based on yesterday’s chart that seems plausible. The LTC/BTC ratio is continuing to show signs of the last bull market. If so then the 3 green rectangles are the potential stopping points. They line up well with the the FIB extension too. Price is currently right up against the top of that wedge. Therefore there is no point on placing a long until the level is broken.

 

Charts are powered by the SCMR Analysis Suite on Tradingview.com

May 26 2016

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