Litecoin (LTCH19) Breaking Out Slowly
Updated
Looks like Litecoin (LTCH19) is taking the lead again.
I am looking at it short term, which we normally do for BitMEX trades, and you can see from the chart above that Litecoin (LTCH19) is already breaking out... but slowly.
Conditions for change: Litecoin can still move down and break down, a close below EMA10 would be a strong signal that the above signals won't be followed up upon, but this is very unlikely right now until the last resistance is tested.
For a short term trade, I would use a close below 0.01200 as a stop loss (manual). Longer term, I would simply buy and hold Litecoin long term.
Feel free to hit LIKE if you enjoyed this post.
Namaste.
I am looking at it short term, which we normally do for BitMEX trades, and you can see from the chart above that Litecoin (LTCH19) is already breaking out... but slowly.
- Litecoin has broken above all major resistances, EMA10, EMA50 and EMA100.
- With a break above these levels after retracing for several days, it is clear that LTCH19 will test the last high or move above it.
- RSI and MACD are both looking bullish.
Conditions for change: Litecoin can still move down and break down, a close below EMA10 would be a strong signal that the above signals won't be followed up upon, but this is very unlikely right now until the last resistance is tested.
For a short term trade, I would use a close below 0.01200 as a stop loss (manual). Longer term, I would simply buy and hold Litecoin long term.
Feel free to hit LIKE if you enjoyed this post.
Namaste.
Trade closed: target reached
131% ROE generated.(65% to our second target, the third target has HOLD).
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Trade: LONG LTCH19
Leverage: 10X
Buy In: 0.01230
Time Frame: 4H
Targets:
(1) 0.01286 -Reached
(2) 0.01311 -Reached
(3) 0.01392 -Reached
Stop Loss: Close 4H candle below 0.01200
Liq. Price: 0.01130
Profit Potential: 65.8% ROE
Capital Allocation: <6%.
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Thanks a lot for the continued support.
Namaste.
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