LitecoinLong
LTC/USD first Bullish signs after halving, going for $250?
Welcome fellow Tradingviewers,
This analyses is only showing you guys my vision on LTC and should not be considered as financial advice. If you agree or find this analyses usefull, dont forget to leave a Like!
We have taken a close look at the LTC/USD and LTC/BTC graph. We have seen huge gains in the beginning of this year due to the block halving that LTC went through. We caught some great moves including the trade all the way towards the $140 area.
Since then LTC has been having a hard time in BTC and USD value, we have made a 50% correction in USD terms and a 66% correction in BTC terms.
We have opened long positions on both of the pairs and secured a big bag for the long run. We have bought LTC at 65, 67.5 and yesterday at 69.75. The reason behind the trade is that we are now approaching and possibly bouncing from weekly 50MA, which is the moving average that has not been retested since the break above.
LTC/USD might also be making a big Cup and Handle pattern on the weekly graph. The Cup and Handle pattern is a very reliable pattern. Therefore we will add to our bag as soon as we see a breakout of this cup and handle.
LTC/BTC is also starting to show the first bullish signs after a 66% correction. We are currently trading around the weekly support level and we the last weekly candle has closed as a Hammer candle.
Hammer candles are usually located after a significant downtrend and indicate a trend reversal is near.
So overall LTC is looking very bullish, targets in USD terms for the short term are $100, $120 and $160 but we believe that there is a pretty high chance that we might extend all the way towards $250. We will ofcourse update you guys on the way.
If you have any questions or comments please leave them below or send a message to ForAllCrypto on instagram.
Safe trading to all of you!
Kind regards,
The Forallcrypto team
This analyses is only showing you guys my vision on LTC and should not be considered as financial advice. If you agree or find this analyses usefull, dont forget to leave a Like!
We have taken a close look at the LTC/USD and LTC/BTC graph. We have seen huge gains in the beginning of this year due to the block halving that LTC went through. We caught some great moves including the trade all the way towards the $140 area.
Since then LTC has been having a hard time in BTC and USD value, we have made a 50% correction in USD terms and a 66% correction in BTC terms.
We have opened long positions on both of the pairs and secured a big bag for the long run. We have bought LTC at 65, 67.5 and yesterday at 69.75. The reason behind the trade is that we are now approaching and possibly bouncing from weekly 50MA, which is the moving average that has not been retested since the break above.
LTC/USD might also be making a big Cup and Handle pattern on the weekly graph. The Cup and Handle pattern is a very reliable pattern. Therefore we will add to our bag as soon as we see a breakout of this cup and handle.
LTC/BTC is also starting to show the first bullish signs after a 66% correction. We are currently trading around the weekly support level and we the last weekly candle has closed as a Hammer candle.
Hammer candles are usually located after a significant downtrend and indicate a trend reversal is near.
So overall LTC is looking very bullish, targets in USD terms for the short term are $100, $120 and $160 but we believe that there is a pretty high chance that we might extend all the way towards $250. We will ofcourse update you guys on the way.
If you have any questions or comments please leave them below or send a message to ForAllCrypto on instagram.
Safe trading to all of you!
Kind regards,
The Forallcrypto team
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