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LTCUSD trade ideas

Litecoin- Ideal place to sell for 1:3 R:RI was bullish on Litecoin since 2 days ago and thought it will rise to the 95-100 zone. However, the coin started to look tired and I closed my trade just above 80. In my opinion, crypto bulls are not out of the woods and a new wave of strong selling could follow in the near future, so I'm preparing for this scenario. In Litecoin's case, looking at the chart, we can see that the resistance above 90 is very strong, and in that place, I will look for short opportunities. Considering a new visit of 50 support such a trade would have a 1:3 risk: reward
COINBASE:LTCUSDShort
by Mihai_Iacob
15
LiteCoin Is Looking HigherLitecoin made some nice breakout above November highs recently, which we see it as a higher degree wave C or maybe even wave 3 after a completed irregular/expanded flat correction in B/2 on November 9th. Litecoin hasn't finished its rally yet, it's still pointing higher within wave C/3, as five-wave cycle of the lower degree looks to be unfinished. So, be aware of further rise at least up to 90 area for wave C, if not even above 100 for wave 3. Don't forget, risk-on sentiment seems to be back in the game, as stocks are recovering and USD is losing its power that can be easily in favor of Crypto. A catalyst for even further weakness of the buck in the last two sessions are FOMC minutes in which members noted that they will be careful with hiking rates going forward. This sounded dovish so US yields came down, notes higher which had a negative impact on the USD and a positive on stocks. So lower USD can definitely help cryptos, especially those that are doing well for the last few days, such as LTC. All the best! If you like what we do, then please like and share our idea! Disclosure: Please be informed that information we provide is NOT a trading recommendation or investment advice. All of our work is for educational purposes only.
COINBASE:LTCUSDLong
by ew-forecast
2
LITECOIN: Doing the heavylifting of the new Bull CycleThe Litecoin has been testing the 1W MA50 (blue) line in the past two weeks for the first time since November 2021, indicating the bearish pressure that the market has been through these past 12 months. This goes against the heavy selling pressure on Bitcoin and other high capitalization coins. We've mentioned countless times that LTCUSD tends to do the initial rise during Bull Cycles and this times is no exception as it is doing the heavylifting as the market is entering its new Bull Cycle. In previous rallies, every time the 1W MA50 broke, the price also hit the 1W MA100 (green) line. On this long term Channel Up that has been trading on since the begining, it is obvious that the majority of the price action is done inside the 0.236 - 0.618 Fibonacci levels. The rallies of early 2019 and Sep 2020 - May 2021 started from the 0.236 and ended on the 0.618, respecting the high impact zone we mention above. Although it is likely to see a full year of trading within Fib 0.0 - 0.236 before a hyper rally, it is also quite probable that if LTC closes a month above the 1W MA100, to see a full scale rally to the 0.618 Fib or at least the middle of the Channel Up. ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ## ## Also DONATIONS through TradingView coins help our cause of increasing the daily ideas put here for free and reach out more traders like you. ##
BINANCE:LTCUSDLong
by InvestingScope