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AlanSantana
Jan 20, 2020 10:25 AM

Litecoin In Retrace Mode | Chart Mapped (8X Lev.) Short

BITMEX:LTCH20240

Description

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Here we have Litecoin (LTCH20) retracing. We can clearly see a break of EMA10 and EMA50 being tested.

Since Litecoin grew by 29% in this last wave, it is likely to see prices retrace further and test at the least the 0.618 Fib. retracement support, this would also match EMA200.

You can find all the important levels marked on the chart.
We are active here on 8X. Hit LIKE if you would like to see the full trade details.

Thanks a lot for your support.

Namaste.

Comment

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Previous analysis:

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The drop is now taking form.

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Trade: SHORT LTCH20 | Litecoin

Leverage: 8X

Buy-in: 0.006795 - 0.006400

Targets:

1) 0.006210 |Hit 23-Jan. (+44%)
2) 0.006060 |Next target...
3) 0.005850

Stop-loss: Close daily (D) candle above 0.006940.

Liq. price: 0.007385
(Current price 0.006550)

Potential profits: 96%

Capital allocation: 7%.
Trend AnalysisChart PatternsTechnical IndicatorsLitecoin (Cryptocurrency)LTCLTCBTCLTCH20bitmexleveragealanmastersprimexbtbinance
Comments
darkpiggie
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Do you also trade ETH pairs? It is convenient given the weakness of ETH.
Nice analysis btw :)
AlanSantana
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@darkpiggie, I don't, but I would like to also cover those...

There is a limit here on Trading View of 10 articles per day... So it would be hard to cover less relevant ETH pairs when we also have the USD paris, USDT and BTC pairs....
darkpiggie
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@alanmasters, Oki, I didn't know about the daily limit :) all good buddy
Cryptorphic
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Nice chart, Master.
What do you think of this chart?
AlanSantana
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@Cryptorphic, Looks good... But remember, when the signals are really strong... is because the move is almost over.

Namaste.
Cryptorphic
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@alanmasters, Agreed
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