Long - LTC/USDT - 1-year Chart Bullish Divergences Scenario
On this graph, we use Elliott Impulse and correction wave (12345),(ABC) with trendline and MacD below.
As per the graph, we saw the lower bottoms which are the month of September and There's possible that this is the year of the bottom.
The graph shows perfect bullish Divergences Scenario, already did correction and pullback. On the graph, it followed by sharp rally. But on technicals, the great news is here! Since Chinese President Xi Jinping already announced all-in on blockchain. Litecoin (LTC) is one of the best Chinese blockchain projects and the owner/founder is Charlie Lee.
President Xi Jinping will also adopt bitcoin and LTC is made of Bitcoin Fork. Check the photos and our trendline we already put our targets.
As per google -
A bullish divergence occurs when prices fall to a new low while an oscillator fails to reach a new low. This situation demonstrates that bears are losing power,
and that bulls are ready to control the market again—often a bullish divergence marks the end of a downtrend.
You can check it here Long 1 year and 1 Month
Remember: TECHNICAL ANALYSIS is all about probabilities and based on previous market performance(not all about certainty)
Disclaimer: This is for educational purposes,it is not intended as a financial advice.
The analyst won't be responsible for a loss of fund. Trader should be able to manage risk.
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Litecoin is a peer-to-peer cryptocurrency and open source software project released under the MIT/X11 license. Creation and transfer of coins is based on an open source cryptographic protocol and is not managed by any central authority. Litecoin was an early bitcoin spinoff or altcoin, starting in October 2011