Woolhead

LTCUSDT analysis: Long position

Long
POLONIEX:LTCUSDT   Litecoin / Tether USD
Option 1 goes from here to the blue target: 300 usd. Option 2 goes from here to support, to either stoploss: 180 usd and below, or to the red target: 255 usd. Option green is an extension of option 1 and goes from the blue target of 300 usd to 255 usd as a correction, then to 370 usd as final target in this analysis.

I used Fibonacci retracements, support and resistance and springs and upthrusts in this analysis.
You can read about springs and upthrusts here: http://www.financial-spread-betting.com/...

If I made you some money, please consider buying me a beer:

LTC: LfbKuDHZaDTRUV9pXJuWCUcG14XLrGtBcs
Comment: Target 1 hit, expect pullback to 255.
Comment: Crashed through 255. Next support at 230.
Comment: Support touched and held strong. Bitcoin dictates the next move though; if BTC crashes to 11.8k, it will cause LTC to crash too. If BTC rises, it will positively affect ltc. If btc stays around the same price, LTC will bounce between fibonacci lines.

Comments

Nice chart and analysis I am on the same wave length
+1 Reply
Good call with option 1. Hopefully it follows your TA! Thanks for the TA and insight.
+1 Reply
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