LitecoinShort
Trading plan: LTCUSD (Litecoin)
Litecoin pleases with the constancy: it grows and falls in the price guidedly. Unlike many other cryptocurrencies, Litecoin has already crossed the 50% Fibonacci zone from the top down ($ 146.3). Now we observe the beginning of the stop of the descending movement.
Priority of the day: we sell LTCUSD with a short target of $ 128.20.
Litecoin is below the 38.2% Fibonacci zone, which tells us about the likely rebound of the price up and the formation of the graphic figure of the Triangle.
Projected scenarios:
1. Sell LTCUSD on a rollback of the price near the level of $138 with a target of $ 128.20.
2. The flat until the end of the day can spoil our plan for the sale of LTCUSD. Finding deals at the end of the downward momentum is very difficult: you never know where the sharp price rollback will begin.
An alternative scenario:
LTCUSD could rise sharply from $ 133 to $ 140. But, we are working on the side of the strongest, today it is bears.
Priority of the day: we sell LTCUSD with a short target of $ 128.20.
Litecoin is below the 38.2% Fibonacci zone, which tells us about the likely rebound of the price up and the formation of the graphic figure of the Triangle.
Projected scenarios:
1. Sell LTCUSD on a rollback of the price near the level of $138 with a target of $ 128.20.
2. The flat until the end of the day can spoil our plan for the sale of LTCUSD. Finding deals at the end of the downward momentum is very difficult: you never know where the sharp price rollback will begin.
An alternative scenario:
LTCUSD could rise sharply from $ 133 to $ 140. But, we are working on the side of the strongest, today it is bears.
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