Litecoin appears to be forming a Double Top reversal pattern around $345, and buying power is decreasing, this might be the end of a great ride (for now), and a good sell signal
Proposed Resistance Levels:
Resistance 1: $320.00
Resistance 2: $345.00
If it does complete the double top formation, and nothing unusual happens "news wise" that could give it an extra boost, my expectations for main support levels would be:
Support 1: $240.00
Support 2: $190.00
Support 3: $160.00
I'd love your feedback on this, if you find this useful, please leave a comment and like :)
Price broke Resistance 1 & 2 @ ~$360.00 Idea's out of play
P.S: To all the "very kind" comments out here: I've stated previously that i'm still learning and fairly new at this, and there's no shame in trying to learn, we all got to start somewhere right?
Trading 101: if you're looking for other people's TA's as trading strategy, then you're in the wrong business. You gotta trade you're own strategy, make your own decisions, and take responsibility for your own actions.
With that said, every time i try to make an informed decision before placing a trade, i read other TA's, thoroughly explore the charts, and browse the market sentiment. And if things go the way i planned, i'd be grateful, if not, i don't go around throwing insults, i just learn from my mistakes and move on.
Anyway, Thanks everyone for the feedback, i did learn a lot!
Bình luận
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Looks like trade worked out somewhat well, it hit many predicted levels and now consolidating
I don't agree, good breakout soon for ltc. to my mind.
TannerJ
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@Dorian942, Nothing's impossible,
But did you see LTC's unrealistic growth percentage compared to BTC?
You believe there's still room for more?
Did you read Litecoin founder Charlie Lee's warning of ongoing hype and how he's worried about a collapse?
Dorian942
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@TannerJ, I saw and For my part, the ltc will be the best competitor for the btc in 2018 in % of growth
rook2pawn
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@Dorian942, i agree, LTC is technically the best. if you are long on LTC buy in at $313 is the upper bound on fair entry price. $313 is the natural price IMO from before the two small bull runs ago in the last two days
212mmb
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@Dorian942, i agree it beats BTC percentage return in 2018
ZaZa_
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Next target is $500
PatrickWhite
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It has a lot of neat colors, but no real neat info. Litecoin likely going for a larger breakout, especially after Christmas.
chrislemmons14
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Donations welcome? Haha what a toolbox.
TannerJ
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@chrislemmons14, Yeah, i'm better off creating a telegram channel and charge people instead. Thanks for the feedback though :)