quantguy

Litecoin Buying Opportunities and Profit Targets

Long
BITSTAMP:LTCUSD   Litecoin / U.S. Dollar
Litecoin is still tracking Bitcoin , even in its lethargy. LTC is currently sitting at levels of support from Fibonacci levels anchored at the extrema of this most recent wave. We will have support from $132, $124, and $111. All should be considered buying opportunities. Eventually LTC should break out and we will have resistance at $138, $145 and $154. These can be thought of as profit targets if you are trading LTC. We still have a way to go before $166, the upper bound of the recent wave, or $186, all time highs, but these should also be thought of as longer term targets.
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