$LTC the #CryptoCoffee Edition - Day Trader Explains

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Ladies and Gentlemen,

Welcome back to TJ's Trade Corner!!
Today we will be taking a look at LTC. Since many people started talking about Litecoin lately and the founder of it is a certified time-traveler, I could not hold myself and NOT take a technical standpoint on the whole hype and conspiracy about Litecoin.

First of all, we start with the market structure. Here, we see the only coffee that I like drinking.. The Crypto Coffee which is served in a beautiful Cup and Handle market structure!
We had a long long way down, started bottoming in December and now after a really crazy rally, we can see the big retrace and the handle pretty much complete.

Taking a look at the retrace, I can see such a steep decrease only in December, where we found the actual bottom for LTC. This might be the case this time as well and we have the chance of being ready to witness one of the biggest pump this year!! Yes, even bigger than BTC.

Let's take a look at the Volume!!
Here, we need to zoom in a little:

As we look at this, we can see over the last three days a pretty strong and significant Volume. First, a nice dragonfly-doji or as some might say scuffed bull hammer, in any way a strong reversal and bullish candle. Then two continuation candles, both significantly bullish. Today, we are seeing a small retrace, which is of the same size as the previous day BUT it has 1/6th of the volume. This means that people are not really selling and over the last 3 days we saw a lot of people buying!!

Now, continuing with the moving averages, should we stay above the 89 moving average, then the next few days have a high chance of being very bullish. Nevertheless, should we close below it over the weekend, we will most likely see a blood bath on Monday with first target reaching for the 12845 and then ultimately for 12185.

Looking at the TJ-Stoch, we can see that we are since pretty much 2 weeks in oversold conditions and we just got the Stoch crossover and see a nice green cross on it. This at itself is already a buy signal and based on the above it is backed by multiple factors.

This TA and a full trade set up has been published before in my private learning group "ETG".
We are going over many observations and possible trades very frequently.
It is meant for only those who are really interested in becoming a self sufficient trader and learning about all the secrets of trading.

Should you be interested in ETG or the indicators I use, join my discord channel and say hi in chat, then I will give you a free trial for which you might be interested.

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Cheers TJ