LTCUSD could go to $110 next and here's why:
- Price has pulled back to the 78.6% retracement level and has rejected this level quite confidently
- price has also broken through the descending trendline (no matter how you look at this) where price was forming lower highs and lower lows COULD WE BE SEEING A SHIFT IN TREND?
- Now that we have seen this break to the upside we can expect to see a few pullbacks but if all goes well it will be in the form of higher highs and higher lows.
- What i would like to see is a break higher and a pullback to resisitance truned support (we have already seen this with the minor bit of resistance at $57.57 level where price broke through to the upside, and we have already seen that pullback to that key level where we have seen price run a bit hgher
We could however see prce drop a bit lower before rocketing up again:
- We could see price pull back to the key level at $47 - $48
- We can se that the trned line has been broken but we haven't seen a retest of these levels yet
- focus on market structure and be aware that antyhing could happen, don't marry your bias but insead stay alert to both biaes.
- Price has pulled back to the 78.6% retracement level and has rejected this level quite confidently
- price has also broken through the descending trendline (no matter how you look at this) where price was forming lower highs and lower lows COULD WE BE SEEING A SHIFT IN TREND?
- Now that we have seen this break to the upside we can expect to see a few pullbacks but if all goes well it will be in the form of higher highs and higher lows.
- What i would like to see is a break higher and a pullback to resisitance truned support (we have already seen this with the minor bit of resistance at $57.57 level where price broke through to the upside, and we have already seen that pullback to that key level where we have seen price run a bit hgher
We could however see prce drop a bit lower before rocketing up again:
- We could see price pull back to the key level at $47 - $48
- We can se that the trned line has been broken but we haven't seen a retest of these levels yet
- focus on market structure and be aware that antyhing could happen, don't marry your bias but insead stay alert to both biaes.