Litecoin Retrace Complete? (Looking For Support)
Updated
I am looking at Litecoin (LTCBTC) and the retrace from the last bullish wave might be completed.
After reaching a peak on the 6th January, Litecoin (LTCBTC) has been on a full retrace. On the way down, it has been breaking support after support until the price starting to flatten out.
Here are the different signals that are pointing to "support found" for LTC:
What's your take on Litecoin's next move?
Do you believe it will go up or continue consolidating sideways?
Or you believe Litecoin will go down?
Please let me know in the comments section below.
Namaste.
After reaching a peak on the 6th January, Litecoin (LTCBTC) has been on a full retrace. On the way down, it has been breaking support after support until the price starting to flatten out.
Here are the different signals that are pointing to "support found" for LTC:
- LTCBTC has retraced all the way to .786 of the Fib. retracement tool, which is an important support level.
- EMA200, EMA300 and MA200 all were able to sustain the drop so far.
- After these moving averages lines and fib. levels were tested, we have a slight increase in green volume.
- I can also see a break above EMA10 with a full green candle, which is bullish.
- There is bullish divergence spotted on the MACD and RSI.
- This is a good set up for a trade.
What's your take on Litecoin's next move?
Do you believe it will go up or continue consolidating sideways?
Or you believe Litecoin will go down?
Please let me know in the comments section below.
Namaste.
Note
If enough likes are giving to this trade idea, we can start a safe, very profitable and easy to follow Litecoin (LTCBTC & LTCH19-BitMEX) trade.Thanks a lot for your continued support.
Note
Use the comments section if you have any questions, I will be more than happy to answer. This is true for all of my posts and trade ideas.Namaste.
Note
Litecoin (LTCH19) trade as promised: ![Litecoin Leveraged Trade -BitMEX [LTCH19][LONG][10X][80.89% ROE]](https://s3.tradingview.com/1/1iAwRNID_mid.png)
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