The Ichimoku cloud on LTC just crossed over to bullish. The previous times this was the case there was great bullish momentum ahead for the following few months. I think 140 is an optimistic, yet not unrealistic target for LTC in the upcoming months. Safer targets might be 100 or 120 depending on the time period you want to trade on.
If you are familiar with this technical indicator you will be aware that for an Ichimoku Cloud Cross to be valid you have to keep three things in mind when debating whether to open a long position.
1. Do not take a trade if the price is within the cloud. If the price is in a cloud that indicates that the price is currently in a squeeze.
2. Conversion line needs to be above the base line.
3. Lagging span needs to be above the cloud.
LTC currently has all of these three indicating a bullish movement might be ahead.
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If you are familiar with this technical indicator you will be aware that for an Ichimoku Cloud Cross to be valid you have to keep three things in mind when debating whether to open a long position.
1. Do not take a trade if the price is within the cloud. If the price is in a cloud that indicates that the price is currently in a squeeze.
2. Conversion line needs to be above the base line.
3. Lagging span needs to be above the cloud.
LTC currently has all of these three indicating a bullish movement might be ahead.
Follow me for more trades in the future. I trade Stocks, Crypto and indexes over multiple time periods.
Comment:
we might see a little sideways before we continue above 80, but the overall trend is still up.