KiaCryptiola

LTC to $130 or $60?

BITFINEX:LTCUSD   Litecoin
#LTC is trading inside a wedge , Yesterday, Bulls broke out of the wedge which is a buying signal as long as #LTC can close on a daily candle above 82$. The bullish trend will face $90 as a heavy resistance where the red line lies. I would suggest to sell a bit sooner and wait for a daily candle closes above the red line. This will target $109-$115 and then $129 levels. The pivot point protects $130 levels. The bulls have defended $75 levels aggressively so far. A daily candle closes below the wedge means the bears have broken below $75. TA wise, this pattern targets $60. We have to wait for a clear confirmation of which direction #LTC will decide to move. Therefore, I suggest traders wait for a daily candle close above $82, or a bit higher at $85 before buying the crypto currency.

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.