VasilyTrader

Litecoin (LTCUSD): Long Trade Explained

Long
COINBASE:LTCUSD   Litecoin / U.S. Dollar

Hey traders,

As you remember we were looking for buying opportunities on Litecoin after a bullish breakout of a major supply cluster.

Retesting the broken supply area, the market is approaching a peculiar confluence zone at the moment.
We see a perfect match between a horizontal daily structure support and a rising trend line .

Our confirmation is the double bottom formation with a neckline breakout on hourly time frame.

Initial target - 228

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