Hello Steemers!
Today I charted the LTC/BTC chart from Poloniex, basing my charts on the weekly one again, but will also show the daily ones.
LTC often being referred as the "silver" of the crypto currencies (compared to bitcoin "gold")
One of the oldest out there. Really think it has a bright future as well as price wise so usage.
LTC/BTC Poloniex - 1 day chart clean
LTC/BTC Poloniex - 1 week chart clean
Clean charts for the start so u can get a view on the full situation.
The volume has been picking up allot since May.
LTC/BTC Poloniex - 1 week chart + local low
You can see how after the last years pump, the price came all the way down near the all time low making only a slightly higher low, a full retrace.
LTC/BTC Poloniex - 1 day chart highs and lows marked
LTC/BTC Poloniex - 1 week chart highs and lows marked
Marked out the previous highs (green dashed) and previous lows (red dashed), on both the daily and the weekly charts. This is usually my default to do when I view a higher time frame chart.
LTC/BTC Poloniex - 1 day chart highs and lows marked + fib
LTC/BTC Poloniex - 1 week chart highs and lows marked + fib
Next step was to add the Fib, which gives me a better view on which levels might play an important role in the future.
LTC/BTC Poloniex - 1 day chart highs and lows marked + fib+cleaned
LTC/BTC Poloniex - 1 week chart highs and lows marked + fib+cleaned
After cleaning the chart up a bit, got left with some what I think are potential future resistance and support levels.
LTC/BTC Poloniex - 1 week chart triangle
Also spotted a nice triangle after finishing the cleanup which is at the bare end, can only break soon.
COMMENT
Once again, I will post the comment by commenting as it involves my personal opinion!
Thank you for understanding!
If anyone has any questions or need's help fell free to ask, I will try to explain as fast and as best as I can.
Critics, comments, reply's, counters, advice's, etc. are always welcome!
Have my charts helped you in any way?Let me know with a comment below :)
Are there more people who are doing TA?
Please post the links to your TA's posts into the comments as well!
DISCLAIMER
I am showing multiple scenarios on the price movement, in the post itself I do not take any stance, either bullish or bearish. I am not responsible for neither you’re winning nor you're losses upon trading! the "comment" section is my personal opinion and does not mean I have to or do hold any positions in the given market.
Everyone who uses TA develops his own unique charting style, please keep that in mind.
Kind regards, OZ :)
COMMENT
The volume started picking up since may and the price made only a slightly higher low compared to the last years all time low (ofc if we ignore the #whatafak candle), which makes me think there is near to no downwards potential.
Easier to show what I expect in the comming few weeks then to write about it:
Expecting some good resistance at the 0.0077-0.008 levels and a test before it breaks and goes higher.
IMHO LTC is a coin with a perspective future. It is at the top of the marketcap for a very long time holding in there strong.
An good investment for the future in my opinion.
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Great analysis mate. I'm half tempted to grab a little bit to hodl , I haven't touched litecoin for aages now but I miss the little chikun .
Heres my chart for litecoin 1w on polo - added a few indicators like bbands, stoch rsi, momentum and pivots.
linky
I've included a potential position if we assume an eventual pump back to the pivot point / resistance and put a stop loss at the bottom of the bands.
This works out to risk/reward ratio of 9.48 , a potential loss of 15% or a potential gain of 155%
Niice.
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I am expecting a rise in LTC as soon as CoinBase announces its official integration.
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Time to buy some ltc ?.. looks like it.
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Now litecoin shall go to the moon after your post, Oz ;D
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Thank you for your post.
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Thank you for the trading analysis.
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Great analysis report. Thanks
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i like the trianlge - but what is it - a break out point? at the right tip - do you think it's going to spike up? or rise up? or just stay flat?
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