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Litecoin / Bitcoin

Litecoin Hits Support, Potential Bounce Zone

By AlanSantana
Updated
Litecoin (LTCBTC) has hit the 0.786 Fib. retracement support and is now trading just above EMA100, sitting on a great spot for a bounce, but there are a few things to take into consideration first... Feel free to hit like now and let's continue with this analysis:

  • LTCBTC has been showing huge momentum on the drop, so it can still go a bit lower.
  • If EMA100 doesn't hold (daily candle closes below it), then you can expect for EMA200 to be tested.
  • If EMA100 holds as support, we can expect Litecoin to bounce and start a new wave up.
  • Green volume was good yesterday, bulls need to follow up today for a bounce.
  • Different scenarios drawn on the main chart.


Thanks a lot for reading.

Namaste.
Comment
Bitcoin update:
Bitcoin Drops As Expected, But How Much Lower? (Trade inside)


Tron on BitMEX (TRXM19)(140% ROE on 10X):
Tron (TRXM19) Finds Support? Over 140% ROE on 10X
Comment
Perfect bounce for our LTCM19 trade.
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