Do we see a reversal here and will LTC outperform BTC?
On the lower timeframes 1h and 4h we saw already a reversal 20 EMA crosses up the 50 SMA. If The 20 EMA crosses the 50 SMA on the daily candles we will see a clear start of a new uptrend for LTC against BTC. On the .236 fib we see some major resistance: - The .236 fib level. - The 200 SMA. - And always look left.
If we can break this level we could find some major support here.
My targets for the long run: .004683 (.236 fib) .005333 (.382 fib) .005858 (.5 fib) .006382 (.618 fib) .007130 (0.786 fib) .008082 (1 fib)
I will take 30% profit around every fib rule and buy it back when it hits around the previous fib rule or makes a reversal. Example, when it hits .382 fib I will sell 30% and buy it back when it hits the 0.236 fib or makes a reversal. To be clear. In 80% of the cases I don't have auto buy or sell orders. Most of the time I use alarm signals based on support and resistance + fib rules.
StopLoss, I don't have a Stop Loss right now on the LTC/BTC pair. My Stoploss is on my LTC/USDT pair. If we move above the .236 fib I will move my Stop Loss to this pair and put it around .00445
Here is our odea on LTCBTC.
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