Trading ideas on Monday: BTCUSD and LTCUSD

3년 전

Good afternoon my dear steemians and traders!

💰 Capitalization of crypto-economics: $ 485.314В
💵General trading volume: $ 19.727B
💥The share of bitcoin: 36.8%


BTCUSD: the upper bound flag test is approaching

During the quite predictable flat, a triangle was formed, as well as on BCHUSD, which already barged up and apparently the price for 1-2 days will test the upper border of the downtrend (it's the flag of the global uptrend) at around $11300-$11400. A positive aspect for bulls is maintaining oversoldness on the MACD, but it will decline. For further growth in March-April, the price should rise above $12000 and consolidate for a week there.

LTCUSD: consolidation is nearing completion

LTCUSD predictably tested level $210, then returned to the middle Bollinger Band. Now the final part of the broad consolidation between levels $210 and $235 is near. In the meantime, a flag was formed (usually drawn with a slope down / up), its breakdown is extremely important for the continuation of the uptrend, and the buyers have every chance, thanks to a positive fundamental factor. It is worth noting that as soon as LTC holders receive Lightcoin Cash, LTC sales will start, which could bring down the price for 1-2 weeks to the level of 176, even if the decline starts from $235 and above.

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Information presented in this material is the opinion of the author (@maksym7) and is not an offer to a specific action.

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Bull flag is about to confirm. Then, headed for 13-14k in a hurry

I still think LTC will retest 175 before the next bull wave comes.
However, the bull pennant has already confirmed as you charted...