LTCUSD (Litecoin) – Week 43 – Will the trendline hold?

BITFINEX:LTCUSD   Litecoin / U.S. Dollar
Brokerage firm Interactive Brokers Group has announced that it is launching crypto trading for investment advisors. The firm is bringing cryptocurrency investment to investment advisors in the U.S. to help streamline the process of investing clients’ funds in the market. Financial advisors are able to invest and custody cryptocurrencies like Bitcoin , Ethereum and Litecoin for their clients with the new feature. In order to bring this new feature to its customers, Interactive Brokers partnered with regulated blockchain infrastructure platform, Paxos. Paxos Trust Company will provide a platform where the investment advisors are able to purchase and custody cryptocurrencies for their clients, in addition to other investment options.

Technically, 2 days ago Litecoin broke the resistance area at 190 USDT and now retraced back in that zone. We see this move as a correction before the next move to the upside. The most probable area for the price to reverse is the blue trendline marked on the chart. We will keep you updated if the price structures changes significantly.

Trade with care.

Best regards,
Financial Flagship

Disclaimer: The analysis provided is purely informative and it should not be used as financial advice. Remember that you need a plan before you start trading; so, take this knowledge and use it as a guidebook that will ultimately help you understand the market and easily predict your next move.