📈 Daily TA: Litecoin (LTC/USD) | 10-04-2021

in LeoFinance3 years ago

Hello, dear members of LeoFinance!

Today I want to make an update on my previous anlaysis of Litecoin.

In the weekly chart (1W), LTC/USD has formed a Double Bottom (common trend reversal technical pattern):
10.04.2021 LTCUSD 1.jpg
As can be seen from the chart, a breakout took place, the price of Litecoin went thru the neckline, and now it is increasing.

I would like to highlight that the weekly time frame is a very reliable one and it seems that this is the beginning of a long upward journey.

In addition, in the shorter time frames, we have bullish formations as well. For example, in the 4-hour chart (4H), LTC/USD has exited the Symmetrical Triangle (typical trend continuation pattern):
10.04.2021 LTCUSD 2.jpg
As can be seen from the chart, LTC/USD is resuming the uptrend.

So, to put it in a nutshell, I am very bullish on Litecoin.

To be continued ...

As of the time of writing, one Litecoin costs $242,26 on the CoinBase crypto exchange, according to TradingView.


A few words about me:

Just to let you know: I've been working professionally as a currency analyst for last almost 15 years, and as a cryptocurrency analyst for last almost 4 years.


Important!

Keep in mind, that thoughts expressed here are my own, and they should not be regarded as recommendations for any cryptocurrency/commodity trades, investments and etc.


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Whoa, how much optimism is around LTC



Link to vote for @cranium as a witness

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Thank you.
I use to keep track of changes through your posts.
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Hugs!

You have done two-way analysis. Good market analysis.

Thank you!

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Your post is reblogged and upvoted by me. It is a good post. Thank you @cryptospa

Thank you!

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