sahaguru

LTC/EUR...Double bottom

COINBASE:LTCEUR   LTC/EUR
How are you?

Trading for few weeks now and trying to recognize pattern.
This formation looks like it could end up as a double bottom .

Does anyone agree?
what do you think now ltc will do?
+2 Balas
@p1ng,


Appreciate you ask me with the little knowledge I have.

On the last bottom, LTC rebounded from the trendline(red line) and just stopped before crossing the main trendline(yellow line) from december(that scenario would been really bad, leading to panic and a big sell off).

LTC is trying to break (and wants break away from BTC) the resistance at €158 that it tested already twice, so I guess i will retest that resistance.
If it breaks the resisitance, it could reach next resistance at €168 after going sideways for consolidation.
If it doesnt we might have a triple top which(same as few days ago that led to the dump), if i understand correctly will lead to a drop of the price.

At the same time, the candles do not show any wicks(HL or LL), so I assume there is little bear pressure. Mostly all the blue candles wicks are filled with the next body candle but still didn't fill the ones from previous top few days ago.

On 4h, CCi is about to be oversold
TSI is above 0 and volume is not here which means it is loosing momentum for a rise.

Additionnally, BTC (aka the King) is a heavy weight on LTC (aka the Prince) and forces LTC price to remain low in order to be aligned with it.

I do not see yet any pattern as HS or C&H and I haven't figured out yet the inbred pattern

So i think LTC can retrace €145-150 for consolidation and as a price that people will remember and then keep rising to the next resistance.

I appreciate any feed back.
Balas
looks like it turned out more like retarded inverted head and shoulders. since its an inbreed pattern it might not thrive.
Balas
@p1ng, appreciate your comment, I will check for inbreed pattern.

Balas
MS Bahasa Melayu
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
Laman Utama Pengimbas Saham Pengesan Isyarat Forex Pencari isyarat mata wang Crypto Kalendar Ekonomi Bagaimana ia berfungsi Ciri-ciri Carta Peraturan Rumah Moderator Laman web dan Penyelesaian Broker Widget Perpustakaan Carta Stok Permintaan Ciri Blog & Berita Soalan Lazim Bantuan & Wiki Twitter
Profil Pengesetan Profil Akaun dan Bil Tiket Sokongan Saya Hubungi Sokongan Idea-idea yang diterbitkan Pengikut Mengikuti Mesej Peribadi Perbualan Log Keluar