Schliemann

Litecoin - First "safe" buy area

BINANCE:LTCUSDT   Litecoin / TetherUS
219 views
2
Hi everyone,

Unless there is a surprise, which in crypto world you never can discard, I think Litecoin move is pointing south. the 112 level still can hold, but when the price tests a level too many times is likely to break it. In any case, wether the price suffers a significant drop or not, an appealing price to place a buy order (in my opinion) is the 98-100 dollars range. If it is triggered, fantastic, if not, nothing lost. The 0.382 Fibonacci retracement level matches with a long term trend line which has been valid since the start of this last bull run.

I expect a bounce at that level, not sure of the target though, as it depends on the whole market fate. Could print a right shoulder, going as high as 135-140 dollars, for example. If it fails the support (stop loss should be placed below the trend line ) then we would be talking about a major red move, obviously.


*Not financial advise, just sharing my ideas :)

Feel free to give your feedback/opinion. Thanks for reading!

Comments

Right on it!!
Reply
All the best mate!
Reply
Home Stock Screener Forex Screener Crypto Screener Economic Calendar About 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 Private Messages Chat Sign Out