🌟BITCOIN LITECOIN CORRECTION OVER??🌟 litecoin bitcoin price prediction, ltc btc news, trading

🌟BITCOIN LITECOIN CORRECTION OVER??🌟 litecoin bitcoin price prediction, ltc btc news, trading



bitcoin and litecoin correction is it over do we still have further to go what's up guys crypto savvy here I hope everybody's having a fabulous Wednesday we're gonna take a look at the charts take a look at some key areas to watch and take a look at where it might be going starting out with light coin moving on to Bitcoin and then I'm gonna discuss why I think 6,600 is our worst case scenario I'm not saying it's gonna go that low but I definitely don't think we'll go lower than that so if you stick around to the end of the video we'll be looking at the Bitcoin daily chart versus the gold weekly chart and I'll show you why if you haven't seen that already I definitely suggest you stick around to watch that very interesting it'll take fear out of the market for you also don't forget we have a totally 100% free discord group with a great community in there guys there is a link to that in the description below the video definitely check it out like I said totally free nothing no charge for anything so also there's some more affiliate links down there there's a hyperlink coinbase link brave browser and ledger link down there it really helps the channel out guys check that out the ledger obviously keep your crypto safe get it off the exchanges if you're not trading it and the brave browser really great browser you don't have to watch all the ads and stuff so definitely check that stuff out and let's get into the video and see what's going on alright guys thanks for tuning in and as always I want to start out by saying I'm not a financial advisor this is not financial advice this is my opinion in my view of the market only anybody's doing any trading or investing in this market I suggest you do your own due diligence and your own researches this market is extremely volatile risky also keep in mind it's still expecting a little market so don't put any more than you're willing to lose would that be inside if you're new here you haven't already definitely consider subscribing click the subscribe button in the lower right hand side of the screen take the notification bow get you posted and get you notified when I post new videos as I new post every day that way you don't miss out on anything smash the likes guys leave your comments let me know what you think by leaving a comment I'll also get you entered to win a free t-shirt and Sunday we do a drawing from random comment and we pick a winner so all right let's get into the charts and looking at litecoin on the daily as you can see I had this target around 240 I moved it up and I'll show you why here in a few but we're looking at or we had been looking at this as a cup and handle with this right here being the start of the cup down to the bottom of the cup up to here and here's our handle and the neckline was at about the 95 dollar range and if we put that measurement to the breakout that gets us the 167 area and I am still definitely still looking at that area pretty heavily and we have a higher target here with looking at this as a bigger cup and handle over here but a smaller handle and like I said I'm not a hundred percent sure on this guy's obviously nones a hundred percent sure in the market but the measure move off that would be up to the 192 area and if you check this line not the top one here that one I think will make itself valid later on but this top line here there was three touches down here and then almost fourth touch here this okay this is a broadening rising broadening wedge or ascending broadening wedge and the measured move I have off that getting us up to the 253 area it's just a measure of the width of this wedge and if we were to break out and of course that'll change depending on where we break out if we break out of this wedge that gets me up to around the 250 around the $250 area which over here would be old resistance if we were to break through that obviously that would become support but that's what I'm looking at for that lets go into the daily excuse me guys let's go into the daily RSI and look at where we're at now we're in a pretty critical area here as you can see we have this rising channel that we've been in for quite some time since back in November and we dropped out here which was more as a look at that as a bear trap but we're in it now and we're getting support off the bottom again we do have some a little bit room in there if we zoom in come down a little more and get a retouch or retest but let's look at the for our now and let me go back to that real quick I do want to point out guys if we do break out on the bottom of this we could pop right back in because this is the daily so we'll have all day to pop back in so keep that in mind if we do drop but if a daily closes and we're out of this you know we could be looking at a bigger correction there but just wanted to point that out now let's go into the four hour and as you can see this has been very interesting we had this the falling channel here in the for our since back in April this was our big thousand dollar spike here that started all this and as you can see we had a falling wedge in here that we broke out of broke up into a falling channel broke out of that into another falling channel broke out of that here into another falling channel now do we break out here that's that's what I'm kind of looking at or do we come back down and test the bottom of this channel again which obviously would be very low here in the RSI but it is possible I'm steering more towards guys breaking up out of this and testing the bottom of this line here I had this blue channel in here where we broke out of and back in here we broke out of this time and possible we come back in at least test this for resistance and if we break through then maybe test the top of this channel again well look at that in the price action and I might start out with the more bearish scenario first and then we're gonna move on to the bullish scenario and you guys seen my targets there so alright let's look at what's going on here we had this drawn in as a ascending broadening wedge and we have another support line here where we were getting support off at here here here we broke through broke back up above it and tested it again here broke back down just like we did over here and as you can see this is a for our guys and this is my 200 EMA that definitely seemed to have hold held as support now what we're watching here is if we can stay above this trend line right here where we're at now I'm gonna move that this was my target on that trend line that we obviously we broke down past but as you can see that's still a area of confluence we're definitely getting a lot of support and resistance in there so but I'm gonna get rid of that so we clear the chart up a little bit and this is my scenario if this doesn't hold we have a while I'm videoing right now we are above it but um I do I do see some strength in the market here guys I don't know that we'll come down and test the bottom of this but I do want to whoops I didn't mean to move there I do want to move this up probably a little bit now on the bottom of this broadening wedge the target and I'm gonna move that around of 192 area so if we're if this doesn't hold this white trendline here we'll probably be coming down into this area or retesting the 200 EMA but guys it looks pretty safe here right now my life said I always like to take a look at the bearish scenario so nobody's surprised if anything happens if this 92 area breaks obviously there's some other supports in here but I believe if that the bottom of this wedge breaks were most likely headed down to the $62 range guys which is obviously older resistance over here to become new support and if that breaks my next target and I'm gonna move that over to because I don't believe it will be directly straight down movement so I'm gonna say around the 54 dollar range and guys again these aren't exact targets but and this is the bearish Turner and I don't believe this is gonna play out but this is the long-term trend line I don't believe you know even in the worst case scenario I don't believe will ever break below this and the longer we continue over the higher this target gets so but that's the worst-case scenario for litecoin and we already took a look at the bullish scenarios and this is what I'm looking more at so as you can see looking at this as that that rising wedge you know we could have another touch up here and around the 150 dollar range and the measured move off that guy's would bring me up to right around that same area the 205 between 192 and 205 area I do think we're looking for that as long as this 92 doesn't break if you know I don't think we're going down to the 92 now but I definitely like I said I just want to point that out for you guys if you're following along draw your trend lines in and watch that that's where I'm at with that let's look at Bitcoin and then after this we'll move on to the Bitcoin daily versus the gold weekly all right so looking at Bitcoin as you can see I removed this target here to around 12,000 and I'll show you why here in a few but we were looking at this as a rising or a broadening ascending broadening wedge here and this is the obviously the bottom trend line coming off where I believe we bottomed out here and this is zoom out this is a long falling wedge that we broke out of here and you can see what happened after that that's why I do believe the bottom is in and I'm gonna show you why you know people are calling for a bigger correction here I don't believe I like I said the worst-case scenario 6600 bucks but I don't even think we're gonna go that low so starting to doubt that but anyways if these targets here let's look at the the higher targets first then we'll go into the 4-hour and look at the bearish case scenario but I had this measured as a bull flag here our flagpole and then a bull flag with this yellow line now I'm gonna take this well let me look at the had the measured move off that to the 10 right around the ten six area I'm gonna get rid of that target guys watching here because I don't believe that we'll need that there anymore and I'll show you why here in a minute so now I'm looking at this as more of a bull flag yes both legs are usually pointed down but enough in a parabolic market like we're in right now this could be you know obviously a both like so taking this and putting it to the breakout up here that gives us to the $12,000 range because I'm still looking at this 90 9600 area and that is the measured move let's show you real quick that's the measured move off of this broadening wedge here guys we measure the distance from where we broke out right up here and we put that up to the top and that's why I've been looking at this sense sense back over here in you know the beginning of May where we broke out of this so that's the ninety six ninety six hundred target I'm still still looking for that I've not changed my opinion on that at all we'll zoom in and check out what's going on now but I do want to put another target in here and this one is the measured move of this channel here and when i zoom in out I'll explain how I got this channel so anyways and if we did the breakout up here this is gonna be one of my new targets here guys that's going to be around the E that's in here sorry I usually have this stuff already in here but I want to see I wanted to show you guys how I get it and why things change sometimes especially for anyone new and just learning to chart and all right so we'll put a price target in there and that's gonna be right around eleven four left five and if you remember we were looking 11 six for a while so I'll say between eleven four and eleven six is that target and that's the measured move of this channel vertebreak out here around the 9600 range which I know guarantees we break from there but I do still think we're definitely headed there it's going to the RS I know and look at the daily RSI and what's going on with that we're watching this rising Channel sense over in November I think we actually started watching it in December Yeah right around this area well made this other peak so now what what we had here we I I cloned this line and moved it down when we touched here and we were getting support got support and we've broken through that line now guys I had this falling wedge drawn in here yesterday and we broken out of that if in fact that's what that was and we probably gonna come up and test it for support again in the daily or testing for resistance and could break through and come back up and test this channel but let's take a look at the for our if this ever loads and see what's going on with that okay in the four hour been this same thing that's rising channel from way back in here we're watching it but we had this rising wedge in here we were watching and we broke down out of come down didn't quite touch the bottom of the channel came back in and now we're in a falling channel here we came down into the over oversold and we've gotten a bounce now we've broken out of this channel and it looks like we're getting resistance to get back in it I do believe we'll probably most likely pop up back up in it we may get some side bit sideways action here first now let's go into the whoops sorry it's going to the price action I'm going to take a look at the bearish and then the bullish scenario guys all right starting out with the bearish scenario and this is gonna get kind of confusing if you haven't been watching but if you haven't been watching it'll make sense to you so and if you are just starting to watch if you stick around and keep watching it's a lot easier to keep up keep up with the updated videos right in here like I showed you in the daily is our flagpole and this was what I was looking at as a bull flag but I'm still keeping this line here guys but I believe it's invalidated as a bull flag right here when we broke back down underneath it but I do have this rising channel here now I'm gonna show you how I got the rising channel yesterday I drew this line in here in yesterday's video and I drew it from this peak right here I was I was not looking at this you know when we had our big flash crash here I was not looking at this wick I was kind of just not paying attention to it and I was more looking at this wick up here if you can see let me zoom in this wake here and we did you know it looked valid right here when we got some support but obviously broke through and I should have done it yesterday but I should have went out for that this wick here yesterday when I drew that in and this is just a cloned line of this line up here so we obviously this is a channel now a rising channel and this is gonna be the key area on the bottom of this channel is gonna be the key area to watch I'm gonna move this target over a little guys I don't know why but I just started lagging really bad all right so moving that up to about the 7150 area and that's if we were to break down out of this channel now the other thing I want to look at real close before we discuss the bearish scenario and then move on to the bullish is that you can see I keep this line here and if you guys watch my channel you understand why I keep the lines there because they usually in the future they still have significant so I I leave them there and as you can see we're trying to break this area now I'm gonna get rid of this target that was a target for you know coming down here that was one of the first targets and then this is obviously another one but I'm gonna get that out of the way now but as you can see that's still a meaningful number because we're getting a lot of resistance there now so excuse me but anyway now what I'm looking at is if we can break above this and make it support then obviously we continue up in this channel but if not if we get resistance here come back down you know there's always a possibility we bounce around in here for a while and then go up or come down so if you guys draw this line in and keep an eye on this area and as you can see if it was come down now it would line up with the 200 EMA again which acted as support right here but if we're to break this area and I'm gonna call it around right around the 7550 area of or 75 40 if we break down below that will just say 7,500 then we're probably most likely headed to the 71 54 which is the top of that broadening wedge that we looked at in the beginning and if this wasn't to hold guys then we're looking at a 66 32 area and I had a measured move off of that gulia if we take this over here and lookie look at this as a rising wedge with this thinner line as you can see we broke down out of it came back up and tested it so that could possibly still be valid and that would be the bearish scenario and the measured move off that is at the 6600 area and that matches up with something in the next charts we're gonna look at which is a Bitcoin daily versus go weekly so anyways that's why I believe that's the worst case scenario and I'll show you why again in the next one but if this channel does hold we could still be going up to my target a 9600 which I'm I'm still pretty confident in unless this bottom channel breaks here and then obviously what we're looking at the 70 150 but keep in mind if that that line doesn't hold then my next support is a 6600 and I don't believe that'll break no matter what but again guys until I break out of this channel I'm still looking for the 6600 or 9600 area so let's go into the Bitcoin daily chart versus the gold weekly chart and if you guys see the resemblance there it's amazing I do believe a pattern as a pattern and patterns are made by human emotion in the charts and human emotion never changes that's why I really believe in patterns I know a lot of people don't believe in patterns but as you can see this seems to be playing out beautifully I've made trend lines from each peak over here in Bitcoin down to where it broke down at 6,000 and when we zoom in here in a minute you'll see that each one became resistance and then became support once we broke through so and we'll see that I don't usually watch other analysis videos but I because for one thing it it screws up my view when I first started charting I were to watch other guys and you know I would be looking at one thing and then they would change my mind and it would end up screwing me up so I try not to watch any other analysis video not that not that I think they're bad just I try not to skew my view and another thing I don't believe in those guys that sell you your the courses and stuff guys we've talked about this before but I'd like to stress this point if they were that good that wouldn't need to be selling courses they're obviously trying to take the risk away from their trading and make money off of you there's so much free information on that on the Internet guys and then the best way to learn is experience in time you got to put the time in the experience in by paying for someone's course that's not giving you a bunch of experience you've got to actually put your time in and watch the charts learn how to chart understand the movements that's experience and time is something that can't be taught so don't pay for that crap getting ripped off guys I can't stress that enough I can't stand people pay for them courses and crap so anyways let's look at my target for the end of the year for one right here forty six thousand and that's not to say we don't go higher but that is my target guys unless and we'll discuss what will invalidate that here in a second so anyways let's look at the gold now and you can see what happened to gold right in here two thousand three Gold's ETF was approved I know they say it won't affect a Bitcoin and whatever but it's obvious guys what a ETF can do because all the institutional money is easier to get in there so definitely you see what happened there and intone BAE's video this morning he said that like I said I don't watch other analysis but if you guys watch my channel you know how I feel about Tony and Tyler and what I think about him but I did watch a little bit this morning just to see what he has to say I always just let it go in one ear and out the other but he said never has he seen a bottom like this never never seen a bottom like this it's not how Stumbo domes he says that's funny because that's exactly how Bitcoin or how gold madam exactly I mean look at it he said you never seen a bottom like that this is the same damn bottom just like the hyper wave theory was supposed to go down to you know what $1000 if this sure looks like a hyper wave to me her diaper wave whatever you want to call it I think it's that they made everybody think that you know $1000 Bitcoin was coming and people lost out on I'm buying the bottom but anyways the hyper wave would have brought this down here but as you can see never happened we got two touches on this bottom trend line and boom we see what happened after that that's where I'm at with Bitcoin same thing two touches on this bottom trend line gone up now like I said there was each one of these lines I've drawn off each peak was resistance become support all the way up in this last line here I want to give a shout out to predator he pointed this out months ago when we put this in I only had these he's sending lines and then he pointed this out in her discord and I've had this line every sense makes a whole lot of sense here and once we broke through I don't believe obviously in that flash crash we came down tested it and went up but we looked here if we were to come directly down today I do believe wholeheartedly that this is gonna hold as support and worst case scenario if we come down to it and if we came directly down to it today it'd be at the run the 6666 50 area I don't see this line breaking guys and definitely see that holdin um I don't even know for sure that we're gonna go back down and test it but if we did I do see this hold and so that's why I say 60 60 600 the worst-case scenario going down I believe we'll get some heavy support here so that's where I'm at with that now I'm gonna I'm gonna back up here in a minute after we go through this and show you know what I'm sorry to skip around but I want to show you guys this real quick like I said looking for this in Bitcoin too if we can break above this back above this trendline and get support off it we're going to the top smaller timeframes I'll show you how I like to look at my EMA's all right so as you can see the smaller EMA's which are my eight this one is my eighth or my 21 my 14 and my eighth actually here 13 my 21 my 13 of my 8 when these all cross over guys and like I said I'm in the hour I'm in the hour chart right now but as these crossover if these all flip up and cross here that's gonna be bullish and then once these three lines cross the 55 EMA that's really bullish so if we get up here and get support and you know these my smaller EMA's end up crossing the 55 that will be very bullish and now you can go down into smaller timeframes and kind of get a clue what's going on and if we look at the 15-minute and see what's going on in there what usually happens in the 15 moves on to the hour and as you can see we've crossed over the 55 here in the 15 now if we can continue up and that moves on to the hour it's just gonna remain more and more bullish and keep going up so we definitely might be alright here with for at least you know another move up to it back up to that 82 to 84 hundred range if this correction isn't over and then back down but there's a good possibility it's over guys so like we discussed there we came straight down looking at 66 on her worst case very worst case scenario in my opinion can please stay within that channel moving up you know obviously this would have been the bottom of this correction here at the 74 what 7400 or whatever it hit 75 and if we take a look at a percentage that corrected it would be right around eight percent somewhere in there 18% correction right there so if we were to go down all the way to the 6600 area that would be a 26 percent correction actually out of 26 28 percent correction I don't I don't think we necessarily have to do that so I'm gonna go into the RSI now and show you what I've been watching or we've been watching on this channel since back in January when I started looking at the gold versus Bitcoin chart and as you can see here's a 2013 bull market followed by the bear market 2017 bull market followed by the bear market this trend lines here we broke we got resistance twice before breaking through and the bull market began same thing over here guys we got resistance twice before breaking through and as you can see once we broke into this over baa area we just kept bouncing around and that was obviously the bear market or the bull market I'm sorry I do believe the bull market has begun and like I said I'm still calling for 46,000 by the end of the year now let's take a look at the monthly RSI if you guys been watching you know I've had these two arches here and this is the 2013 bull market followed by the bear market each one of these arrows represents a new low in the RSI we had four of them before bull market began same thing 2017 bull market 2018 bear market for lows in the RSI and bull mark has begun the only difference I think is gonna be here guys is this arts gonna be a lot quicker my opinion let me know what you think in the comment section down below guys don't forget to smash the likes click to crypto savvy logo above my head if you're not subscribed yet and you want to get subscribed if you like the content also don't forget to take notification bell to get you notified when I post new videos that way you don't miss out on anything have a great day guys and I will see you tomorrow

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About the Author: Maximilian Kuhn

16 Comments

  1. Hi Savvy, appreciate your updates, do you think there is a case for the cup on LTC being made @ $160?? Bullish, I know, but I'm thinking about the havening in August.

  2. I’ve a general question, I was approached by someone who offers to mine my btcs if I transfer them to her platform (blockchain) she only asked for my email ? What do you reckon ?

  3. Good morning 🌞😊 I feel like as a public service I should warn everyone when I'm going to be sticking my toe in the water as Everytime I do, the price drops lol

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