Looking at the current channel, I can see LTC going for a wave 5 up to $70,- RSI on daily has enough space to let it happen. We might see a down first. Target is determined with Fibonacci extensions. More detailed information in the update on smaller timeframe.
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Buy the breakout or bounce on the lower horizontal line
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Price made indeed another leg down, now watch price action near the trendline for a strong upmove before you buy. SL in accordance with your moneymanagement strategy below the trendline
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And here is the break out!
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LTC is having a hard time these days where BTC is flying. I changed the blue trendline a bit and shows last hope for LTC. If the price breaks below this line, its better to close the trade.
Remember: always use proper moneymanagement and stop losses! Better safe than sorry! LTC has risen a lot off late.....
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Nice bounce on the trendline and looks on its way for more up
Trend continuation pattern:
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sorry, i was to hasty making a chart this looks better imho
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Doing well, nice recovery....lets see if LTC can continue the way up
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Ready for breakout?
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Nice rally for LTC! Still on track for $70. Possible bounce area on chart. Watch price action in the blue box
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We're more or less in the targetted area. Keep an eye on price action, we might get a correction from here or in the blue box.
@Crypto_Ed - In case it reaches in Blue Box, how far it can go..
Crypto_Ed
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@himanshugodhwani, 85 but its not a rule that it reverses in that box. It might even extend further, you should see it as a zone where to pay attention.
WELL DONE!