Hello friends,
LTC has presented a couple patterns that are showing bearish signals along with 1 bullish signal for which I decided to do a chart on. Attached you will find a chart
that shows a possible outcome accordingly to the bearish signal patterns that I have found. I had excluded the Head and Shoulders pattern for reason of too much info overload.
My general consensus according to the Ichimoku and the GC(DW) indicators tells me that we are most likely bearish and now is not a good time to enter this trade. Both charts I have provided gives good entry points for bearish trend or bullish trends. The reason for the multi TA is to give a look at possible outcomes for where LTC could be heading. Tell tale signs are seen from S&R trend lines as good entries as suggested on the charts.
Watch for breakouts and set stop losses at 2%, trail your stop losses towards targets. Enter early on breakouts or enter at retests of support lines. You decided what works for you. Remember TA is not fool proof and will at times give false signals. That is why stop loss is important along with having some wherewithal to think for yourself.
Details on the Chart.
This is my viewpoint and my opinion. I am not giving advice but only sharing what I see. Do not enter a trade on my TA but do your own homework.
Cryptocurrency is volatile and very risky. Never invest what you can't afford to lose and always educate yourself and continue to do so when making any kind of investment.
If you find this information helpful, then please hit the like button. Your support is appreciated. Thank you!
CYA on the next one...until then, the trend is your friend. Buying on the dip and selling on the hype.
Cheers!
LTC has presented a couple patterns that are showing bearish signals along with 1 bullish signal for which I decided to do a chart on. Attached you will find a chart
My general consensus according to the Ichimoku and the GC(DW) indicators tells me that we are most likely bearish and now is not a good time to enter this trade. Both charts I have provided gives good entry points for bearish trend or bullish trends. The reason for the multi TA is to give a look at possible outcomes for where LTC could be heading. Tell tale signs are seen from S&R trend lines as good entries as suggested on the charts.
Watch for breakouts and set stop losses at 2%, trail your stop losses towards targets. Enter early on breakouts or enter at retests of support lines. You decided what works for you. Remember TA is not fool proof and will at times give false signals. That is why stop loss is important along with having some wherewithal to think for yourself.
Details on the Chart.
This is my viewpoint and my opinion. I am not giving advice but only sharing what I see. Do not enter a trade on my TA but do your own homework.
Cryptocurrency is volatile and very risky. Never invest what you can't afford to lose and always educate yourself and continue to do so when making any kind of investment.
If you find this information helpful, then please hit the like button. Your support is appreciated. Thank you!
CYA on the next one...until then, the trend is your friend. Buying on the dip and selling on the hype.
Cheers!
The H&S pattern shows a big move down and the target is seen on the chart. This is probably gonna take several months to happen or it could happen quickly...time will tell.