LTC 7% to 10% potential within 10 days (short term)
Updated
Hi,
Litecoin must continue upwards as it hasn't done ATH yet
Supposing that late February correction is over and drawing the associated fib retracement, we are dealing now with the 0.5 fib level
Price action is now above this 0.5fib level at it should hold if we take into account that :
- An ascending triangle is in progress ==> we should break the horizontal red resistance in the next 3-4 days
- Red trendline (since Oct'20) is holding
TP1 : 218-219$ within 3 days (~7%)
TP2 : 226-227$ within 10 days (~10%)
But you could keep your position open as it will continue going upwards while red support line holds
SL : 198$. Red support line could be broken but it will very probably bounce back above it fast. 195$ SL would avoid your position to be closed in case we pass trough this scenario
Take a look to my yesterday's idea on LTC perpetual futures on my profile (cannot publish the link yet :D)
PS : trade at your own risk and just the amount you may afford to lose
Litecoin must continue upwards as it hasn't done ATH yet
Supposing that late February correction is over and drawing the associated fib retracement, we are dealing now with the 0.5 fib level
Price action is now above this 0.5fib level at it should hold if we take into account that :
- An ascending triangle is in progress ==> we should break the horizontal red resistance in the next 3-4 days
- Red trendline (since Oct'20) is holding
TP1 : 218-219$ within 3 days (~7%)
TP2 : 226-227$ within 10 days (~10%)
But you could keep your position open as it will continue going upwards while red support line holds
SL : 198$. Red support line could be broken but it will very probably bounce back above it fast. 195$ SL would avoid your position to be closed in case we pass trough this scenario
Take a look to my yesterday's idea on LTC perpetual futures on my profile (cannot publish the link yet :D)
PS : trade at your own risk and just the amount you may afford to lose
Trade active
LTC is taking some time before taking off. A bit of consolidation, which is good as the pump will be stronger. Red trendline and 0.5fib still holding, which is a good sign.
We could expect some movement on price action tomorrow last day of the week and specially on Monday at the beginning of the week and our targets will be closer
Trade safe
Trade active
We touched the stop loss and we broke down the red trenline. Anyway it should bounce back in the next hours (it's in progress now) as it has done several times since OctoberOverall trend is still bullish
Trade closed: stop reached
It seems we must wait a bit to go up again
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