LTC is about to break through the triangle in uptrend direction. I recommend waiting for the confirmation by crossing the selected entry-level line. The profit target should be placed a few ticks under the all-time high.
Komen
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Komen
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Komen
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The market continues to test the resistance downwards, but the original idea is still valid. Entry level should be lowered down to $245 USD.
when you did your TA, did you include the 50,100 & 200 DMAs? For me with them being so far down in price it was a clear give away after the 300% rise in price action that this correction was only midway through.
MartinKysela
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@Joshny923, hello and thank you for your question. I create my analysis upon several charts with different timeframes. This is the final result of my analysis, which is meant as a long-time prediction - I agree with these corrections, it was inevitable. But I still expect the strong uptrend in LTC.
EtherSwinger
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Did you draw a bear (desc triangle) and call it a break upward?
MartinKysela
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@EtherSwinger, it is actually a flag, but the most important for me is CCI position and support/resistance levels - I assume this as an upward break.
bedarija
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@EtherSwinger, i would also say this is descending triangle and upward movement is very unlikely do too very low volumes. but new year, new resolutions and maybe ripple dump (hopefully)
MartinKysela
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@bedarija, exactly, I expect the change in volume these days.
@S252512,
Martin is human and can be prone to missing it here or there. He would not be at fault if it gos south. We all play this game and chances of losing money is high. you are responsible for your own trades not Martin