LTC/BTC Technical Analysis – 10th March 2014
Analysis provided by Ashton Fraser, learn more about his Forex Reversals trading strategies.
From a longer timeframe perspective, Litecoin vs Bitcoin Bitcoin While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that Read this Term is in the middle of a Bollinger Squeeze, particularly since Friday, as can be seen below on the H4 timeframe (marked in white)...
But zooming into the hourly timeframe, we can still see some classic technicals at play within this very squeeze. So let's take a closer look at the LTC/BTC chart below (click to expand):
For this chart, I have performed the Fibonacci study from yesterday's low at 0.0248 until today's high at 0.0259.
Concerning the candle that produced that high of 0.0259 (circled in red), then we can see how it's upper wick is as long as the actual body, well surpassing the upper Bollinger band. At the same time, the Accelerator Accelerator An accelerator or startup accelerator is defined as fixed-term programs that look to foster investment, connections, sales, and education to kindle growth in a project.Most commonly this effort constitutes a public pitch event, demos, and other forms of marketing. Startup accelerators are most commonly associated with Silicon Valley, a global hub for investing and fintech.Startup accelerators however are a global phenomenon that privately funded as an investment fund. This nature of investing he An accelerator or startup accelerator is defined as fixed-term programs that look to foster investment, connections, sales, and education to kindle growth in a project.Most commonly this effort constitutes a public pitch event, demos, and other forms of marketing. Startup accelerators are most commonly associated with Silicon Valley, a global hub for investing and fintech.Startup accelerators however are a global phenomenon that privately funded as an investment fund. This nature of investing he Read this Term Oscillator had just red, alerting us to a possible retrace. And over the next couple of candles, other technicals confirmed the retrace, by way of the Stochastics crossing downwards and the Awesome also turning red.
Hence price came down to the 38.2% Fib retracement level, at 0.0255, where it's been tested, on no less than four occasions, marked in blue.
I would expect price to continue to bounce between today's high and the 38.2% for the next few hours, purely because I just don't see valid technicals to indicate any break out just yet.
Analysis provided by Ashton Fraser, learn more about his Forex Reversals trading strategies.
From a longer timeframe perspective, Litecoin vs Bitcoin Bitcoin While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that Read this Term is in the middle of a Bollinger Squeeze, particularly since Friday, as can be seen below on the H4 timeframe (marked in white)...
But zooming into the hourly timeframe, we can still see some classic technicals at play within this very squeeze. So let's take a closer look at the LTC/BTC chart below (click to expand):
For this chart, I have performed the Fibonacci study from yesterday's low at 0.0248 until today's high at 0.0259.
Concerning the candle that produced that high of 0.0259 (circled in red), then we can see how it's upper wick is as long as the actual body, well surpassing the upper Bollinger band. At the same time, the Accelerator Accelerator An accelerator or startup accelerator is defined as fixed-term programs that look to foster investment, connections, sales, and education to kindle growth in a project.Most commonly this effort constitutes a public pitch event, demos, and other forms of marketing. Startup accelerators are most commonly associated with Silicon Valley, a global hub for investing and fintech.Startup accelerators however are a global phenomenon that privately funded as an investment fund. This nature of investing he An accelerator or startup accelerator is defined as fixed-term programs that look to foster investment, connections, sales, and education to kindle growth in a project.Most commonly this effort constitutes a public pitch event, demos, and other forms of marketing. Startup accelerators are most commonly associated with Silicon Valley, a global hub for investing and fintech.Startup accelerators however are a global phenomenon that privately funded as an investment fund. This nature of investing he Read this Term Oscillator had just red, alerting us to a possible retrace. And over the next couple of candles, other technicals confirmed the retrace, by way of the Stochastics crossing downwards and the Awesome also turning red.
Hence price came down to the 38.2% Fib retracement level, at 0.0255, where it's been tested, on no less than four occasions, marked in blue.
I would expect price to continue to bounce between today's high and the 38.2% for the next few hours, purely because I just don't see valid technicals to indicate any break out just yet.