LTC: EQ perfectly prolonged, Break coming!
Hello LTC traders, since the last analysis, I didn't even put the drawings away, have a look: The EQ range perfectly played out, the bulls defended the bottom, further tightening inside the range.
We have now the clear bottom of $129 on Bitfinex, vs. the top at $140. If you wish to play the break, you obviously have to give it a little bit of wiggle room, so you don't get faked out.
A break to the upside would have the first target of $150 psychological -solid 7% profit.
A break to the downside would have the first target of $120, also with solid 7% profit.
As always, check correlation to BTC, as LTC will in most cases follow grandpa's price action.
If you had some value from my analysis, give it a thumbs-up & comment it, because the mechanism shows my analysis to other people then. Make also sure to follow me so you get notified on my Crypto Analyses! I wish you a good trading! :)
Edgy is providing online mentorship & trading metrics only. We are not a financial advisor, nor do we hold any formal qualifications in this area. You're trading at your own risk. No matter what you do, please set your stop loss. Please be aware, that you can lose all your money on the online exchanges.
We have now the clear bottom of $129 on Bitfinex, vs. the top at $140. If you wish to play the break, you obviously have to give it a little bit of wiggle room, so you don't get faked out.
A break to the upside would have the first target of $150 psychological -solid 7% profit.
A break to the downside would have the first target of $120, also with solid 7% profit.
As always, check correlation to BTC, as LTC will in most cases follow grandpa's price action.
If you had some value from my analysis, give it a thumbs-up & comment it, because the mechanism shows my analysis to other people then. Make also sure to follow me so you get notified on my Crypto Analyses! I wish you a good trading! :)
Edgy is providing online mentorship & trading metrics only. We are not a financial advisor, nor do we hold any formal qualifications in this area. You're trading at your own risk. No matter what you do, please set your stop loss. Please be aware, that you can lose all your money on the online exchanges.
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