_______________________________________________________________________________________________________________________________________ Hello traders investors and community. This is an update analysis on my recent SHORT analysis about LTCUSD. As you can see in the chart it reached exactly my SHORT target at 97.602, there is also a second target at 83.270 which we will reach the next time! However i think we will have a reversal to the upside from that point, first confirming the EMAs (50 and 100) and then go ahead. _______________________________________________________________________________________________________________________________________ Everybody who watched my SHORT analysis on LTCUSD should be happy now. I will cut off my SHORT and take profit at the second target (83.270), also i will open up a LONG position at that level. Target will be the blue trend-line you see in my chart. _______________________________________________________________________________________________________________________________________ Also we have an great signal confirming in the RSI, it is oversold and forming an bullish divergence! Great to see also this factor playing into the successful analysis and for an good LONG entry. _______________________________________________________________________________________________________________________________________ Okay hopefully you enjoyed this analysis, give some support and i will probably upload an LONG term analysis on LTCUSD! So see you soon! This is only educational and should not used to take action in markets! May all happiness and luck come to you friends! _______________________________________________________________________________________________________________________________________
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Also we have good support in this area formed in the wave count before
Trade active
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We hit the 50 EMA and confirming support
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LTCUSD consolidating between psychological price level 100 and 97.5
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We can get a correction to price level 92-93 before moving higher
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LTCUSD correction will be over soon, bounced off support
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Consolidating in the range
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LTCUSD touching resistance and trading in this area.
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LTCUSD is in a triangle formation with support between 83.5 - 87.8
Also it touched the 23.6 fibo level
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LTCUSD formed a bullish hammer on the 4-hour chart and trading above support
I am expecting a break-out to the upside the next days
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Broke out of triangle with good momentum
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Expecting a move to 120
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Thanks for everybody who supports my work! You are the best!