vox-populi
Long

BTC Throws a Rager - LITECOIN is invited! - Litecoin! (LTC)

COINBASE:LTCUSD   Litecoin / U.S. Dollar
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Friends, Traders, greetings! What a week! We had, a beautiful bullish 3 Drive pattern on Litecoin, which has resulted in us breaking upwards out of the fib channel previously broken down from. Very bullish! With bitcoin showing some signs of (understandable) exhaustion here, we have to look elsewhere for opportunities. Look no further than Litecoin!

Now, we are confirming the Fib channel as support, after a PERFECT 62% retracement. Look for a good, strong impulse wave up from this level to go long. This could be an excellent trade! Previous target was $102, but I think now considering the state of the market, that (conservative) target can be revised to $114 for the 127% extension and, $135 for the 161% extension.

Good luck, traders!

Previous analyses:


May 27
Comment: Target 1 $114 hit!
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