Chivashon
Long

#LTC - Litecoin Trade - Coinbase

COINBASE:LTCUSD   Litecoin / U.S. Dollar
Litecoin is making an uptick today though not quite beating out the prior day candle, but i'm going to take a bet and enter around $59. We just broke over the 20 day moving average, a bullish sign and he BB% has been trending up the past week. The average true range sits around $4 and the volatility is low at this point, so the swings will not be to great. My aim is the upper band around $64 which if the momentum continues could be about 2 days until i look to profit. My stop sits around $54 in case of a breakdown.
Nice idea on LTCUSD and there may be potential gains as you have identified by going long. We have found a major support at 56.7, which is just below your entry level. It is a horizontal swing low support and ascending channel support, with 78.6% Fibonacci retracement and 100% Fibonacci extension. Stochastic is approaching support we might see a corresponding bounce in price off this level. Excited to see how things develop.

Please take a look at our idea and share with us what you think.


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Chivashon easyMarkets
@easyMarkets, looks good! tank you for the feedback!
+1 Reply
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