tl93

Bullish consolidation for LTCUSD pairing, retest of ATH?

Long
COINBASE:LTCUSD   Litecoin / U.S. Dollar
Bull flag in the form of an ascending triangle . Entry point is placed just above current resistance at ~$82.50. Looks like bulls want retest the $100 mark, so profit targets are set at key resistance levels as they correspond to the Fibonacci retracement (78.6% and 100% respectively) from the most recent all-time high (GDAX: $98.28). The $77 price point correlates to the 38.2% retracement level, and has served as solid floor of support for a few days. Stop losses should be place just below this support, as a drop below here will break two short-term uptrend lines - and could signal a retest of lower levels of support (key support at $64).

Stop: $77.00
Entry: $83.00
PT1: $90.00
PT2: $98.00
Order cancelled: Entry point was never triggered, so no losses at least :) Pattern is now invalid, awaiting some definitive price action to provide an opportunity for a reevaluation.

Comments

It's a dumpling top formation. You need to get a bird's-eye view of the chart. LTC is primed for rainfall. Scalp it while you can.
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Very nice chart, also appears to be the most logical of charts and direction of LTC based on many views of charts today, and my assessment of LTC at this time. Good trading :)
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