Long

LTC/BTC - Potential 100% Gains

Updated

The "Prolonged Divergence" clearly suggests how LTC sellers have been exhausted over time and not much of LTC hodlers are left to actually sell. A big panic sell off might occur only if we decisively break past the "end game" support line as demarcated in the above chart. However, I potentially see that this event is not likely to occur. If I were you, I'd start accumulating a few LTCs on these levels.
There cannot be a 100% probability towards a trade as markets consists of various sentimental traders and HTF bots seeking to find the majority of liquidity across various price levels.
However we can just have a little inclination of probability factors towards our end through TA.
I would say that the probability of this setup lies 60% towards "BULLS" end.
.
Be a responsible trader, have stop losses and stick to them, NO MATTER WHAT.

Note

Expecting target 1 to be hit soon.

Note

Buy levels (incase of a dip)
0.0074 - 0.00805
.
Stops Loss : a daily close below 0.00689

Note

Target 1 Hit (Bitstamp)

Note

Just missed the buy zone. Trade is still on going.

Note

Viola!
Broke the 0.0099 resistance with conviction.
It should be working as a support henceforth for the Mid term.
Trade ongoing.

Note

Up 42% since the trade was opened.

Note

Well well.
Pretty unexpected run straight upto T2 but just missing it by a few thousand sats.

Note

Maybe it's the having effect. No one's talking about it.

Note

Yep, T2 Hit.

Note

Closing the trade here!

Note

Caught the move nicely

Note

Okay, seems like cryptocurrencies do not want to stop for a while.

varunsm0812

Also on:

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.