Bed Time forcast for litecoin
Welcome back! A few of you agreed with my analysis from last night, and I thought I would give it another whirl. Not sure why crypto likes to move so much in the early hours of the morning (-5 EST), But it does probably due to the Asian investors/Traders taking over at that time.
For today it took a large swing up and after breaking through some small resistance lines and in tandem supporting trendlines(It fell through one earlier in the day but broke above it. Thanks bulls!). But its coming up to the extremely strong (Once support line) mental 120 resistance line, highlighted in red. From this I believe it will go back down to the lower 115 line. From there it will be anyone's game (Unless you're watching it at that time, I personally like my sleep)
I won't be executing this one because of the possibility of a long term up swing, and I don't want to be stopped out of that while asleep or running errands. Also the previous mentioned mistake of not stopping loss at the 220$ line.
But we held above the 110$ support which is a rather important line.(Correction 109$)
Happy Trading
Duane
For today it took a large swing up and after breaking through some small resistance lines and in tandem supporting trendlines(It fell through one earlier in the day but broke above it. Thanks bulls!). But its coming up to the extremely strong (Once support line) mental 120 resistance line, highlighted in red. From this I believe it will go back down to the lower 115 line. From there it will be anyone's game (Unless you're watching it at that time, I personally like my sleep)
I won't be executing this one because of the possibility of a long term up swing, and I don't want to be stopped out of that while asleep or running errands. Also the previous mentioned mistake of not stopping loss at the 220$ line.
But we held above the 110$ support which is a rather important line.(Correction 109$)
Happy Trading
Duane
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.