LTCUSD double bottom confirmation - 40% push towards greatness
What's happening traders,
LTC is currently fighting the 100 day MA, a confluence with the .382 retracement from February high. Many traders use fib retracement as support and resistance levels as validated here between the .236 and .382 levels. Looks like it might be done with the .382 retracement though and is looking for a push towards the .5, .618, and .786 retracement zones for roughly 40% gain or more. If you look closely at the current formation, it's making a double bottom or a W pattern. May see $155 one last time before heading towards greatness
*for education only, not a recommendation for sell, buy, or hold*
Kinashi-San
LTC is currently fighting the 100 day MA, a confluence with the .382 retracement from February high. Many traders use fib retracement as support and resistance levels as validated here between the .236 and .382 levels. Looks like it might be done with the .382 retracement though and is looking for a push towards the .5, .618, and .786 retracement zones for roughly 40% gain or more. If you look closely at the current formation, it's making a double bottom or a W pattern. May see $155 one last time before heading towards greatness
*for education only, not a recommendation for sell, buy, or hold*
Kinashi-San
Comment:
50% retracement hit. May rest here for a day or two before continuing
Comment:
Gotta love it when your fib levels and assessments are right on the money. Print it!