martin1000

LITECOIN NEXT MOVE- showing us two targets

Long
BITFINEX:LTCUSD   Litecoin / U.S. Dollar
Dear Traders

This time Litecoin.
Litecoin like Sauron put ring on his forefinger and show us which way wants to go.
There are two routs and all is down to you which way Litecoin will go.
We can see two flag patterns one is in green and another one is in red.
If we loose blue trade line 210$ we will follow RED flag target down to 180$ but I know no one wants this, so
there is another way.
This time we look at GREEN flag and target 285$ but to get there we can't fall below blue trend line 210$ and we need to brake resistant line which stands for 246$
If we will break above 246$ resistant red line we will hit our target 285$

Lets see how Litecoin will play this.

This is for education perpouse only

Comments

Hi Martin, Litecoin sure is bleeding and really struggling at your upper dashed blue line right now. The lackluster LitePay launch really hurt the price.
We are seeing some sideways movement at this time though, so let's hope we've reached the bottom for now, but it may still be to soon to call.

For those trading the Bitcoin pair, click here for my LTC / BTC analysis:

Reply
martin1000 CryptoJC
@CryptoJC,
Great analysis.
I do not expect big drops, we are in uptrend now.
Thanks
+1 Reply
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