Hello friends, traders, analysts, everyone!
Litecoin has been one of my favorite coins to analyze lately, because of its correlation with Bitcoin.
You know what, I've definitely been drinking, but I promise I was 100% sober when I made this chart :D. So, forgive any typos.
So, we've got a split chart here on Litecoin. In our last analysis, we were looking for a retracement back to our zone outlined in that fun little box down there...Now we got that, and I want to remain bullish here. There is a point where things could get bad, and we will talk about that. But for now, I see two scenarios here as likely, and I have outlined them on the chart.
First, we have the orange dotted line there. That's really what I'm looking for (mostly because I'm tired of playing games) we move down into the 90s and accumulate somewhat before entering the 0.5 Fib Time Zone with a vengeance..
Alternatively, yes it could bounce right here right now or, very soon. I feel this is less probable, but it's crypto, when has probability stopped anyone right? God my buddy makes a mean Moscow Mule and it is crushing me right now.
Focus Vox.
I hope I don't come off as an idiot right now.
Anyways, direct your attention to the chart on the left. What I am trying to do here, is give you context, and insight into what you are looking at. This is especially important, as we have crossed very important Fibonacci levels a few times now. When I look at these charts, I get strongly the sense that I am looking at the tip of a logarithmic iceberg. This is all very fascinating. I think we are on the precipice of something great...
To summarize, LITECOIN is at a critical juncture here, needing a strong breakout from the 0.618 Fib Speed Fan Resistance. Hopefully that can be produced by the impulse wave coming off of a bounce off Channel support (See #1 on chart)
Falling into the red zone, that's bad. I'm not going to put a short trade there, it's just not good.
Friends, Price action is like water. It takes the path of least resistance. We simply have to figure out how to identify that path...
Good luck, Traders!
Litecoin has been one of my favorite coins to analyze lately, because of its correlation with Bitcoin.
You know what, I've definitely been drinking, but I promise I was 100% sober when I made this chart :D. So, forgive any typos.
So, we've got a split chart here on Litecoin. In our last analysis, we were looking for a retracement back to our zone outlined in that fun little box down there...Now we got that, and I want to remain bullish here. There is a point where things could get bad, and we will talk about that. But for now, I see two scenarios here as likely, and I have outlined them on the chart.
First, we have the orange dotted line there. That's really what I'm looking for (mostly because I'm tired of playing games) we move down into the 90s and accumulate somewhat before entering the 0.5 Fib Time Zone with a vengeance..
Alternatively, yes it could bounce right here right now or, very soon. I feel this is less probable, but it's crypto, when has probability stopped anyone right? God my buddy makes a mean Moscow Mule and it is crushing me right now.
Focus Vox.
I hope I don't come off as an idiot right now.
Anyways, direct your attention to the chart on the left. What I am trying to do here, is give you context, and insight into what you are looking at. This is especially important, as we have crossed very important Fibonacci levels a few times now. When I look at these charts, I get strongly the sense that I am looking at the tip of a logarithmic iceberg. This is all very fascinating. I think we are on the precipice of something great...
To summarize, LITECOIN is at a critical juncture here, needing a strong breakout from the 0.618 Fib Speed Fan Resistance. Hopefully that can be produced by the impulse wave coming off of a bounce off Channel support (See #1 on chart)
Falling into the red zone, that's bad. I'm not going to put a short trade there, it's just not good.
Friends, Price action is like water. It takes the path of least resistance. We simply have to figure out how to identify that path...
Good luck, Traders!
Yorum:
Woohoo, Litecoin!
Yorum:
Target 1 hit
Yorum:
This has been a perfect example of the 62% - 127% trade strategy
İşlem kapandı: hedefe ulaştı:
:)
