I really like litecoin, and I'm holder of LTC. Remember that litecoin has strong correlation with Bitcoin. If BTC goes up it will too.
Since hitting $413.5 ATH, LTC fall down 70%. With highlighted double bottom + buying pressure, litecoin's correction phase was finished.
Higher low formed by bulls on September 29, 2021 so broad bullish channel on Daily Chart.
We had a key level ( Gold, $188 - $194 ) which got passed by bulls and then trendline angle got increased that was a sign of buying pressure.
Holding price above the bull trendline + gold key level means that we are still bullish. I expect the bull channel line to be tested by bulls but LTC has an obstacle in its way. Higher key level ( Red, $232 - $240 ) acts as resistance now. So You can buy LTC now but take your profit at red key level waiting for break of this level.
Before reaching the channel line, red key level must be broken and bulls have to consolidate above this level. Next target after channel line can be LTC ATH.
**This is not an investment advice. Your capital might be at risk.**
Give me your idea on comments...
Good Luck...
Since hitting $413.5 ATH, LTC fall down 70%. With highlighted double bottom + buying pressure, litecoin's correction phase was finished.
Higher low formed by bulls on September 29, 2021 so broad bullish channel on Daily Chart.
We had a key level ( Gold, $188 - $194 ) which got passed by bulls and then trendline angle got increased that was a sign of buying pressure.
Holding price above the bull trendline + gold key level means that we are still bullish. I expect the bull channel line to be tested by bulls but LTC has an obstacle in its way. Higher key level ( Red, $232 - $240 ) acts as resistance now. So You can buy LTC now but take your profit at red key level waiting for break of this level.
Before reaching the channel line, red key level must be broken and bulls have to consolidate above this level. Next target after channel line can be LTC ATH.
**This is not an investment advice. Your capital might be at risk.**
Give me your idea on comments...
Good Luck...
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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.