$LTC/BTC 12h (Binance Spot) Descending wedge on support
Updated
Litecoin is accumulating in satoshi and could bounce in the weeks to come!
Current Price= 0.003675
Buy Entry= 0.003679 - 0.003605
Take Profit= 0.004116 | 0.004533 | 0.005349
Stop Loss= 0.003345
Risk/Reward= 1:1.6 | 1:3 | 1:5.75
Expected Profit= +13.01% | +24.46% | +46.87%
Possible Loss= -8.15%
Fib. Retracement= 0.5 | 0.786 | 1.272
Margin Leverage= 1x
Estimated Gain-time= 2 months
Current Price= 0.003675
Buy Entry= 0.003679 - 0.003605
Take Profit= 0.004116 | 0.004533 | 0.005349
Stop Loss= 0.003345
Risk/Reward= 1:1.6 | 1:3 | 1:5.75
Expected Profit= +13.01% | +24.46% | +46.87%
Possible Loss= -8.15%
Fib. Retracement= 0.5 | 0.786 | 1.272
Margin Leverage= 1x
Estimated Gain-time= 2 months
Trade active
All entries filledLitecoin dipped a bit more than planned, but still looking good to me.
Note
Still ranging and accumulatingLitecoin made an attempt to go up but was rejected and back to entry zone, I am manually adding here!
Note
Finally moving upLitecoin bounced at last, let's see if it can break above 50MA soon.
Note
And got rejected againLitecoin did not manage to break-out yet and that lead it to more local downtrend.
Now sitting wedge support, we decided to update SL a bit lower to avoid a long squeeze on a possible fake-out!
Stop Loss= 0.003262
Risk/Reward= 1:1.25 | 1:2.34 | 1:4.49
Possible Loss= -8.15%
Trade closed: target reached
TP1 reached with +13.01% (1x) and +0.73RLitecoin dipped further more, I had to updated SL lower to avoid Stop hunt.
Then it finally pumped to first target and seems to be up-trending at last!
Trade closed: target reached
TP2 reached with +24.46% (1x) and +1.37RLitecoin kept going up and broke bullish of the wedge, last target is likely to be hit.
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