vaidas911

LTCUSD monthly downtrend - potential change in direction soon

BITFINEX:LTCUSD   Litecoin / U.S. Dollar
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Litecoin is rolling downtrend during last month, in a perfectly formed wedge , touching lower line for the third time. My personal opinion that it will go higher once we are out of the closing wedge space - classroom example of soon to come breakthrough.
I will wait for either breaking up or down, and the confirmation: touch the line one ore time from outside of wedge and follow the new trend.

Unfortunately i missed the last touch of the lower line yesterday - that was low risk trade to go long at least for short time. As with all touches of the lower line, after initial bounce we see retrace back to FIB .618 (in last case to 157 from 167), that gave a nice risk reward ration too. Sorry to say, but missed that too :D Not a full time trader, dough (30min per day doesn't do the trick). Currently, in the middle of the wedge , i'd consider any position as a lottery, so will just set alarms on upper and lower trend lines ...

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Hi. Im looking for buys at 75-65 EUR zone. Depends on BTC price (if around the "double bottom" ~5800 usd ). How do you think?
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