Fellow traders,
This is an idea for longer term trading for LTCUSD. Based on what i'm seeing right now, LTC is not 100% out the woods yet but it looks like it's definitely beginning to form its position for a run.
We're looking at a Target of 375$ - LTC corrected from ATH to a FIB retraction level of 0.5 and now to begin make it's way back up to 1 and potentially surpassing it for a new ATH.
What are the current signs?
- Volume is steady and at a good place to consolidate
- MA Cross about to crossover on the daily chart
- MACD is converging and looking for a crossover as well (We're seeing crossover currently at smaller time frames)
- RSI has reasonable amount of growth
LTC is a coin I personally use regularly, especially for transferring currency between wallets and exchanges - it's a good/fast coin and seems to have very little problems.
I will be expecting a flag pole break out in the next ~48hours.
Trade safely and best wishes,
Alqasim
This is an idea for longer term trading for LTCUSD. Based on what i'm seeing right now, LTC is not 100% out the woods yet but it looks like it's definitely beginning to form its position for a run.
We're looking at a Target of 375$ - LTC corrected from ATH to a FIB retraction level of 0.5 and now to begin make it's way back up to 1 and potentially surpassing it for a new ATH.
What are the current signs?
- Volume is steady and at a good place to consolidate
- MA Cross about to crossover on the daily chart
- MACD is converging and looking for a crossover as well (We're seeing crossover currently at smaller time frames)
- RSI has reasonable amount of growth
LTC is a coin I personally use regularly, especially for transferring currency between wallets and exchanges - it's a good/fast coin and seems to have very little problems.
I will be expecting a flag pole break out in the next ~48hours.
Trade safely and best wishes,
Alqasim
Comment:
We're holding the trend quite well on the 4hr chart.
Comment:
Looks like we might be going flat - or more consolidation around the $245 mark.