P_S_trade

LTC 1D Short-term growth and further prolonged fall

BINANCE:LTCUSDT   Litecoin / TetherUS
In this idea we would like to show the general picture of LTCUSD for the last 3 years.
It, following ETHUSDT , tried to reach ATH which was $375, but actually stopped halfway at $185. The last time the price was there in early 2018.

At the current growth, the price from the second attempt was able to break the high of 2019 at $145 and went further by $185.
However, a sharp fall by -40% to $112 showed what happens after "big men" sold out and there is no one to push the price up, and where are the liquidity levels to buy.
Take a look at 2018, then the price touched this level three times.

LTC trading volumes attract special attention. They began to grow sharply before the breakout of the white trend line , then the breakthrough and growth, and volumes naturally only grew.
No wonder that in previous ideas around $45-50 we wrote that LTC is accumulating by strong buyer. It is a pity that they did not take all the movement, but only a few fragments, probably they did not believe that buyer can be so strong and focused.

Now the high that we expect from LTCUSDT is the growth to $168-170, and then a long price fall.
Still, you need to check the strength from above the white trend line , which was broken the day before.
The trend line retest in the zone of $85-91 can also be considered a tasty price to buy in the medium term.
It is necessary to gain strength before the next long way to the absolute high of the LTCUSDT price.
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