LitecoinLong
LITECOIN BULL PLAY IDEA
Updated
First time posting here at Trading View and long time since I've done any TA. Just starting to look at Crypto after a few years in the Forex game.
Nothing too deep or special here on this chart; I like simple concepts of Support and Resistance zones, trend lines, and above all else, PRICE ACTION.
Have seen some similar ideas for Litecoin here, but this is my take on how it might play out if price gets back down to that support zone.
Nothing too deep or special here on this chart; I like simple concepts of Support and Resistance zones, trend lines, and above all else, PRICE ACTION.
Have seen some similar ideas for Litecoin here, but this is my take on how it might play out if price gets back down to that support zone.
Note
A few people on twitter saying LTC has broken out. I would disagree (for now). On the 1 Hour chart, price has not held above 285 (which is the current previous resistance). There's also a completed Gartley Pattern if you wanted to counter-trend trade it. Price needs to break AND HOLD above 285 before this will get any legs. I'm still out of it.
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.