Nice idea on LTCUSD and there may be potential gains as you have identified by going long. We have found a major support at 56.7, where price is currently at. It is a horizontal swing low support and ascending channel support, with 78.6% Fibonacci retracement and 100% Fibonacci extension. Stochastic is approaching support we might see a corresponding bounce in price off this level. If a potential bounce does occur, we may want to take a closer look at the 67.37 which is a major resistance level, with a 100% Fibonacci extension. Excited to see how things develop.
Please take a look at our idea and share with us what you think.