LitecoinLong
Bullish consolidation for LTCUSD pairing, retest of ATH?
Updated
Bull flag in the form of an ascending triangle. Entry point is placed just above current resistance at ~$82.50. Looks like bulls want retest the $100 mark, so profit targets are set at key resistance levels as they correspond to the Fibonacci retracement (78.6% and 100% respectively) from the most recent all-time high (GDAX: $98.28). The $77 price point correlates to the 38.2% retracement level, and has served as solid floor of support for a few days. Stop losses should be place just below this support, as a drop below here will break two short-term uptrend lines - and could signal a retest of lower levels of support (key support at $64).
Stop: $77.00
Entry: $83.00
PT1: $90.00
PT2: $98.00
Stop: $77.00
Entry: $83.00
PT1: $90.00
PT2: $98.00
Order cancelled
Entry point was never triggered, so no losses at least :) Pattern is now invalid, awaiting some definitive price action to provide an opportunity for a reevaluation.
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