velmunis

LITECOIN-Battle between active and shadow area

Long
BITFINEX:LTCUSD   Litecoin / U.S. Dollar
πŸŽ‰ Please give us a thumbs up if u like our work and do follow us so that you can get a regular update about upcoming setups and ideas

LTCUSD
Is trading within a triangle pattern and its about to break the triangle pattern in coming days as in recent days most of the crypto currencies are trading within a confined range. LTCUSD is currently trading above the.382 Fibonacci level and around key price action level where we can expect some resistance to the bull.

50.305 area is acted as both support and resistance for the past 08 months. If the bull want to remain in control it has to broke the key price action level.

If its happened then the next upside swing target would be around 64.00 is the place where we can see a previous left and right shoulder pattern was formed in the august month.

During the initial period of pandemic it has seen a massive sell off due to the lost in market confidence and the investors flew in to safety. From March 13 LITECOIN is in uptrend after this period the bear cannot take control.

If the Key price action level was broken then the next upside hurdle would be a .50 Fibonacci retracement level comes around 54.140.If LTCUSD managed to bruise through the shadow area we can expect massive upside or downside rally. But the current market condition is supporting the bullish rally

πŸ’Œ Leave your valuable comments and suggestions related to this idea in the comment section.
Thanks for your time. Good day guys πŸ’

Comments

Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features Pricing Refer a friend House Rules Help Center Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Blog & News Twitter
Profile Profile Settings Account and Billing Referred friends Coins My Support Tickets Help Center Ideas Published Followers Following Private Messages Chat Sign Out