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MMBTtrader
May 14, 2021 5:15 AM

LTC after deep fall reach strong support zone wait for recovery  Long

COINBASE:LTCUSD240
Litecoin / United States DollarCoinbase

Description

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As we can see price now touched strong support zone on chart that is Fibonacci last support level and 200 Moving average and pressure of buy positions will lead market to reach once again resistance zones that marked on chart .

We are looking for second target if and if we had breakout and our updates on bitcoin shows strength.

Targets:
A. 336
B. 366

DISCLAIMER:.
1.trade carefully and have stop loss for sure
2.Past performance is not indicative of future results.


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Support and ResistanceFibonacciWave Analysis
Comments
Slinkman
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"our updates on bitcoin shows strength." Really? Its not bearish and most likely heading south in the short term?
MMBTtrader
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@Binzaydan,


here take look at new analysis that shared
Oakeso1
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Shows weakness to me today. Reversed sharply after a brief bounce to 337. Meanwhile, so many ALTS making major moves up. But not LTC.
Oakeso1
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And two days later...LTC is down further to 313.
MMBTtrader
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@Oakeso1, first target reached as it was expected and now price is falling beacuse targets are strong support and resistance zone too
Oakeso1
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Yes...now down to just above 300 at 302. Looks like a further drop as the weekend progresses.
Henry_Ross
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Perfect analysis, well done mate ^_^
MMBTtrader
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@Henry_Ross, thanks a lot dear henry
Helical_Trades
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Good one here :D
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