$LTC/USDT 12h (Binance Futures) Descending channel breakout
Litecoin seems to finally be done with the down-trend after regaining 50MA support.
It already retested it once but could dip a last time before heading towards 200MA!
Current Price= 136.33
Buy Entry = 132.73 - 123.77
Take Profit= 155.64 | 176.38 | 199.91
Stop Loss= 106.26
Risk/Reward= 1:1.25 | 1:2.19 | 1:3.26
Expected Profit= +21.36% | +37.53% | +55.88%
Possible Loss= -17.15%
Fib. Retracement= 0.382 | 0.5 | 0.618
Margin Leverage= 1x
Estimated Gain-time= 1 month
It already retested it once but could dip a last time before heading towards 200MA!
Current Price= 136.33
Buy Entry = 132.73 - 123.77
Take Profit= 155.64 | 176.38 | 199.91
Stop Loss= 106.26
Risk/Reward= 1:1.25 | 1:2.19 | 1:3.26
Expected Profit= +21.36% | +37.53% | +55.88%
Possible Loss= -17.15%
Fib. Retracement= 0.382 | 0.5 | 0.618
Margin Leverage= 1x
Estimated Gain-time= 1 month
Note
TP1 would have been reached with up to +26.20% (1x)Unfortunately, Litecoin never filled our entry, demand zone is still likely to be retested later.
Note
TP2 would have been reached with up to +41.74% (1x)Litecoin kept going up as well, if you are still in, taking some partial profit here would make sense!
So far 50MA seems to be holding the up-trend so last target is still in play.
Note
TP3 would have been reached with up to +55.88% (1x)Litecoin went up to +71.68% since called but never came back to entry zone, gain-time just expired.
Still looking good for mid/long-term, we'll look for another entry soon!
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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.