Hi,
Litecoin (LTC) has started to approach one of the strongest areas, even among the other altcoins, this could be the strongest. Probably it sounds super-hyped but it just has historically two strong criteria/price levels that have started to make up a crossing area.
Technically a good BUY area stays between $30 - $36:
1. Historical trendline, drawn from 2017 March and waiting for a third touch.
2. The orange line is the horizontal strong area and it is around $35. It has worked as a resistance level and as a support level. The strong area means that the price has been capable to break this level ONLY with strong candles and it has been so from 2017. It shows that the area is capable to produce reversals and luckily this area is not alone, we have a great crossing area because as said, there is also the trendline that should act as a support level.
3. If the price falls so "deep" then $30 has been a pretty important level and the middle number should act as a support level.
4. Fibonacci Extension 161%, plus smaller extensions from smaller waves are pointed to the mentioned entry area.
5. AB=CD and the D point stays perfectly inside the buy zone.
Major targets are shown on the graph. The highest target is probably a bit utopic but 30% profit from the current setup should be done pretty easily!
Do your own research and please, take a second and support my effort by hitting the "LIKE" button, it is my only FEE from You!
Best regards,
Vaido
Full Image:
Litecoin (LTC) has started to approach one of the strongest areas, even among the other altcoins, this could be the strongest. Probably it sounds super-hyped but it just has historically two strong criteria/price levels that have started to make up a crossing area.
Technically a good BUY area stays between $30 - $36:
1. Historical trendline, drawn from 2017 March and waiting for a third touch.
2. The orange line is the horizontal strong area and it is around $35. It has worked as a resistance level and as a support level. The strong area means that the price has been capable to break this level ONLY with strong candles and it has been so from 2017. It shows that the area is capable to produce reversals and luckily this area is not alone, we have a great crossing area because as said, there is also the trendline that should act as a support level.
3. If the price falls so "deep" then $30 has been a pretty important level and the middle number should act as a support level.
4. Fibonacci Extension 161%, plus smaller extensions from smaller waves are pointed to the mentioned entry area.
5. AB=CD and the D point stays perfectly inside the buy zone.
Major targets are shown on the graph. The highest target is probably a bit utopic but 30% profit from the current setup should be done pretty easily!
Do your own research and please, take a second and support my effort by hitting the "LIKE" button, it is my only FEE from You!
Best regards,
Vaido
Full Image:
Comment:
$36 touched and currently 14% up from there:
Trade closed: target reached:
What a perfect run - 57% reached:
Trade closed: target reached:
The second target reached: +91%!
