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Litecoin
Long

Possible Bull Scenario?

By johncbeatty
Major supports have been broken and dramatic selling is still underway, however from a risk reward this idea seems worth considering. Extreme oversold condition on the daily, plus we are at the price area that the initial bull run to 400. Even if this is a simple ABC correction and not a full bull reversal the upside target is ~130 (50% of the downward impulse from ~180).

Please be aware counter trend trades are extremely risky and this is a speculative scenario.
Chart Patterns
johncbeatty

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