SimpleCryptoLife

LTC/USDT long the top of the range?

Long
BINANCE:LTCUSDT   Litecoin / TetherUS
Litecoin is at the top of a range it's been stuck in for 3 months. The weekly resistance it's pushing against has been tagged 14 times already in the past 2 years.

So surely we should be biased short here?

Well really we need to wait for a bit more clarity, but it's good to be prepared.
Since I didn't buy the bottom of the range, what would make an entry?

A breakout and potential retest on a weekly scale, sure. But we might not get a clear retest. If you have that kind of patience, good on you.

If we get some market structure at this level next week on a daily timescale, instead of falling back out of the resistance zone , and start to turn it into support, that would be my reason to long.


Reasons to look for bullish setups include first and foremost, ETH/USD. It seems to be leading the majors, which is a super sign.


Not financial advice. Trade safe!

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