Litecoin has entered our buy zone!
After a long and torturous descent, LTC has finally entered into our buy zone. Currently, in a descending pattern (purple), LTC has bumped both upper resistance and lower support several times. We are running out of room in our triangle. LTC will be forced to decide where to go to get out. But which direction will it go? Up or down?
Almost all signs indicate that we will go up from here:
3) Nearing 200MA
4) Nearing base of triangle
5) Nearing long trending support (green TL) which is currently intersecting with 200MA
6) Over an 80% correction from our highs.
Cast your buy ladders here over the next several days. Anywhere from $110 to $160 is a great zone to dollar cost average yourself in.
This is why we traders always try to have some cash on hand folks. The discount window is open. Now back your trucks up and get loading!
%10 at $160
%20 at $150
%30 at $140
%20 at $130
%10 at $120
%10 at $110
If we don't touch the lower numbers, I'll readjust and buy more on the way up and I'll save the rest in CASH.