LTC ANALYSIS:
LTC saw an extremely bullish engulfing on the bottom at $25. This was a huge buying opportunity. I doubt we will have a second chance at that price. With that said, LTC is now overextending itself on the buy pressure. I expect a small retrace to fall into the right shoulder gap near the buy zone of $31-34. Recommend to stagger bids inside this zone for a long. The outlook is for LTC to hit the daily resistance block pushing up past T1 of 42.40, and T2 at 45.30. Buy volume doesn’t seem to be matching the sell volume and a drop back towards a neutral zone near 30 is likely to be incoming. Great buy opportunity incoming!
Possible Entries: $31-34
LTC saw an extremely bullish engulfing on the bottom at $25. This was a huge buying opportunity. I doubt we will have a second chance at that price. With that said, LTC is now overextending itself on the buy pressure. I expect a small retrace to fall into the right shoulder gap near the buy zone of $31-34. Recommend to stagger bids inside this zone for a long. The outlook is for LTC to hit the daily resistance block pushing up past T1 of 42.40, and T2 at 45.30. Buy volume doesn’t seem to be matching the sell volume and a drop back towards a neutral zone near 30 is likely to be incoming. Great buy opportunity incoming!
Possible Entries: $31-34
Trade active:
LTC reached the entry zone at $30 level.