LitecoinUpdated LTCUSD - LOOKING FOR A BREAKOUT - 12TH MARCH 2021
LTCUSD
Looking to breakout the ascending triangle on Daily TF. Expect to retest USD 229 in immediate short term.
Reason to be bullish:
1) Trading above the resistance level on daily TF
2) Breaking out from the ascending triangle on daily TF
3) MACD green on daily TF
4) RSI above 55 on daily TF
5) Trading inside the ascending channel
6) Trading above 20MA, 50MA, 100MA, and 200MA on daily TF.
7) Closing above USD 205.4 on 4hrs TF
8) Trading above weekly VWAP
For safer trade, can wait until daily closing tomorrow for confirmation.
Possible trading condition for confirmation, USD 205.5 flip to support on daily TF
Entry: USD 205.5 - USD 206
Target : USD 229, USD 239, USD 244
Breaking USD 229 (resistance trendline) can bring Litecoin to form a higher high to USD 285-USD290
Looking to breakout the ascending triangle on Daily TF. Expect to retest USD 229 in immediate short term.
Reason to be bullish:
1) Trading above the resistance level on daily TF
2) Breaking out from the ascending triangle on daily TF
3) MACD green on daily TF
4) RSI above 55 on daily TF
5) Trading inside the ascending channel
6) Trading above 20MA, 50MA, 100MA, and 200MA on daily TF.
7) Closing above USD 205.4 on 4hrs TF
8) Trading above weekly VWAP
For safer trade, can wait until daily closing tomorrow for confirmation.
Possible trading condition for confirmation, USD 205.5 flip to support on daily TF
Entry: USD 205.5 - USD 206
Target : USD 229, USD 239, USD 244
Breaking USD 229 (resistance trendline) can bring Litecoin to form a higher high to USD 285-USD290
Note
Heading towards first target USD 229, current price USD 225Note
Exactly hit my target of USD 229, close 50% position over there, after hitting resistance, price retrace to 0.618 fib area around USD 211 area in immediate short term.
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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.
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.