LTCUSD (Litecoin) – Week 46 – Retracement to the support
Closely followed trader and analyst Michaël van de Poppe is unveiling his bull market target for Litecoin (LTC) while mapping out potential plays for two low-cap altcoins. In a new strategy session, Van de Poppe tells his 142,000 YouTube subscribers that peer-to-peer payments network Litecoin can potentially ignite a 286% rally before the current market cycle comes to a close. “When we’re getting expansion happening in the next bull cycle of Litecoin, we could be seeing the Fibonacci extension taking place here once again.”
Technically, in the previous week Litecoin had a bullish impulsive phase that made a local top at $295 on the 10th of November and after that it started a retracement that in our opinion will reach at least the support area marked on the chart. After the support area is reached we must study the price action to see what the next move will be.
Trade with care.
Best regards,
Financial Flagship
Disclaimer: The analysis provided is purely informative and it should not be used as financial advice. Remember that you need a plan before you start trading; so, take this knowledge and use it as a guidebook that will ultimately help you understand the market and easily predict your next move.
Technically, in the previous week Litecoin had a bullish impulsive phase that made a local top at $295 on the 10th of November and after that it started a retracement that in our opinion will reach at least the support area marked on the chart. After the support area is reached we must study the price action to see what the next move will be.
Trade with care.
Best regards,
Financial Flagship
Disclaimer: The analysis provided is purely informative and it should not be used as financial advice. Remember that you need a plan before you start trading; so, take this knowledge and use it as a guidebook that will ultimately help you understand the market and easily predict your next move.
