coondawg71

LTCUSD in Accumulation Zone

COINBASE:LTCUSD   Litecoin / U.S. Dollar

COINBASE:LTCUSD

LTCUSD has established a breakout pattern and has begun its Retracement phase.
-23.6 fib level is a common buying level. Between the Zero fib line and -23.6 is an Accumulation Zone for Buyers.

Bullish price projections expire by February and March 2018.

Neutral position on this asset until price falls deeper into -23.6 level. Then Long would be the bias.
Comment: Long play is approaching the 223% level, which is a common exhaustion level. Should price close above and maintain that level on a daily close, look for hints of further expansion to the 309-323% level.
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