angelsmfg
Long

LTC I want to see you go up but it seems that you are going down

BITFINEX:LTCUSD   Litecoin / U.S. Dollar
LTC I want to see you go up but it seems that you are going down. Hope we could even see you reach 75 before you go down from your channel. ;-) Try to reach that upper green line please. ;-)
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. 


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