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LTC / USD | Ranging near $80 PlanLTC similar to other brothers and sisters might go to $80 Resistance zone before retracement after 12345-wave setup.
LTC currently retesting 7 month old channelLTC has broken out of its 7 months old downward channel . Currently it is retesting the former resistance channel. If it is bounces it is bullish and it is going up to higher highs. A break back into the channel is extremely bearish and can send the price to $22, last years low. An abc pattern will form in case price goes back into the channel. It is likely to end at $24, shy of the previous years low.
LTC, small movesLTC could not breach the resistance at $58 for the 3rd time. Will meet support of the rising wedge. If it breaks it will drop to $48.26 unless it is not a rising wedge but a rising channel
LTC long - good RRRLTC found now support on LTF.
RSI on daily oversold and it is starting to move up.
It is now in my buy zone.
Now BTC dominance is dropping, the money could flow into the majors as usual.
Entry 5500 - 5700
SL below 5300
TP1 5900, TP2 6100 tp3 6240
Low risk trade high reward.
LTC/USDT ShortLTC/USDT:
Negatives:
- Price<20<50<100<200 DMA
- Price < Ichimoku Cloud 1D
Positives:
- None
Strategy:
- Always short when price rally to decline resistant.
- Exit at decline support
LTC possible pathsLTC broke over the resistance line at around $47.5 which is bullish. Now a 0.618 retracement is likely, retesting the resistance line. This retest will result in a significant hidden bullish divergence which means continuation of the upward trend. It is more probable that price action continue its upward movement then to break again under the resistance line.
LTC still on track to the moonLTC showed high volume and volatility today, price reached $66 in a matter of minutes from $62. There was a scam wick prior to the pump that I am sure hurt a lot of traders. Scam wicks proves that whales are unloading other peoples longs by triggering these peoples stop losses because price is eventually going to moon. All the price action structures points up. I have drawn three separate take profit zones in blue.
LTC broke downward structures, moon possibleLTC showed strength again today, breaking a downward widening wedge and retesting again the rising wedge it was in previously.
It is becoming apparent that the correction from $64.3 is over and a the upward wave 3 has started.
It is becoming more clear that alts season has started. It is possible that we can reach new ATH for this year.
LTC Road to 95$#LTC Buy and Hold for expected 60% Profit
Entry 60$
TP 1: 72$
TP 2: 77$
TP 3: 95$
SL 54$
