LTCUSD has not been faring well against the recent BTCUSD and ETHUSD pumps. Many of its supporters are patiently awaiting bullish movement. When will that happen?
The Trends: - Spikes UP when a buy signal is triggered at (Avg. 14.75 days) - Slow movement DOWN when a sell signal is triggered (Avg. 1.5 months) - There is an average of 57.657% profit loss over 3 significant down trends. - We are currently in the 4th significant down trend, at a 27.52% profit loss since Litecoin's last all-time-high. - When significant buy signals were triggered, price rose an average of 132.3% over 4 pumps. - When significant buy signals were triggered at an avg. RSI of 24.6327 (over 3 pumps), price rose an average of 137.69%.
A Few Thoughts: - It has been a little over half a month since the last all-time-high. We're halfway through the avg downtrend. - Litecoin will find support at the .618 fibonacci level, but could move down to the .5 fibonacci level if there isn't enough support. - The .618 fibonacci level is more likely, as it is consistent with past movement. - There will be attractive entry points for bulls to pump Litecoin at these levels. If Litecoin does not show any sign of significant buy signals, we'll see the downtrend continue.
This chart is based entirely on past history of average price movement with RSI, MACD, Bollinger Band, and Fib lines as technical analysis tools.
Disclaimer: I am not an investment advisor. This is not investment advice. I do not provide financial advice, nor do I act as a financial advisor. I highly recommend consulting a certified financial advisor before making any financial decisions that could impact you or those who depend on you.
Happy trading! Stay tuned for updates.
Komen
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Great support at .618! Could be repeating it's previous peak from December 13th, seeing as BTC is in a position to correct and pump, LTC could trail after.
Also, apologies for the messy chart. I just realized how hard it is to read. Will fix next time!
Dagangan aktif
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Komen
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Resistance reached at .786 Conversion line has placed itself right under the base line. Possible short-term bull run coming, but still in a long-term bear market.
Nice work. So, your thinking the price will go down for about 36.5 day before being pumped?
ASantosR
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@icoeyedoc1stock, thank you. Yes, though that will be dependent on whether or not it rides green cloud support.
If it does, I can see a short-pump that would trigger a selloff extended towards our target. If it doesn't, it may retrace to .618.
sidharthkaushik01
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any time period expectation ?
ASantosR
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@sidharthkaushik01, I'm bullish. Based on ichimoku cloud signals along with price trend history, I expect around a 55% loss of value over 36.5 days.