Litcoins Best Opportunity for A Mid Term Accumulation

BINANCE:LTCBTC   Litecoin / Bitcoin
Litcoin is currently moving sideways for the past 5 days. But it seems its trying to make a reversal at this point. Like all other alts it was in a downtrend and trapped in a falling wedge since May. In the following days it is expected to continue the uptrend with a rally. This can be said from different supporting insights. To state some :
- RSI seems to start an uptrend which is shown in the upper blue circle.
- According to MACD definition Divergence is defined as - When the security price diverges from the MACD , it signals the end of the current trend. For example, a stock price that is rising and a MACD indicator that is falling could mean that the rally is about to end. Conversely, if a stock price is falling and the MACD is rising, it could mean that a bullish reversal could occur in the near-term. Traders often use divergence in conjunction with other technical indicators to find opportunities.
Here we can see that we are seeing an upward cross which is a good rally indicator.
- Other than the indicators that we give as an example volume momuntum and chart patterns are showing a good positive signals for a rally to start in the following week. For the short term as we can see the next strong resistance is found at around 0.013819 Btc . If it can break the red resistance trend line it will most probably start a 5 wave elliotts rally.
Entry Level : 0.012 - 0.013 BTC
Possible Targets/ Strong Resistance Levels :
For Short Term Investment :
Target 1 : 0.013819 Btc
Target 2 : 0.014733 Btc
Target 3 : 0.015471 Btc
Target 4 : 0.016210 Btc
Target 5 : 0.017262 Btc+
For Long Term Hodlers :
Target 1 : 0.015359 Btc
Target 2 : 0.017201 Btc
Target 3 : 0.018690 Btc
Target 4 : 0.020179 Btc
Target 5 : 0.022299 Btc
Good Luck.
Legal disclaimer:
Information on this channel is our team's analyst's "opinion" based on data available at this point in time. These opinions are not recommendations to buy or sell securities/ commodities and cryptocurrencies. Trading and investing is a risk and you should not rely on this data to make any financial decisions. You must consult a financial advisory licensed by regulatory agencies in your legal jurisdiction. All information stated here and in our reports don't guarantee any possible profits or losses. Please do consider to do your own due diligence and research when making any kind of a transaction with financial implications. With Regards. TeamTWA.


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