LTC had a massive sell which in fact didn't compromise any significant lines. It still has a major long term pattern which may lead in weeks if not months of rising.
Current setup is a chance for LTC to revisit the first small resistance zone .
My trade idea after the great move above the major resistance zone is LONG, but we need to see a small pullback.
When to enter: ~255 - 260 will be ideal. It could be fast sell-off after which will be bought fast.
Target: ~315$ - second touch of the current high
Why not go long now? Because chasing the market is never a good idea. First watch how the late longs...
After market proved that the long side is still stronger ETHUSD pair passed through small resistance zone (~235) and it is heading to 250 zone once again.
Do not confuse yourself 250 is much bigger obstacle also it is potential second touch of this resistance zone and will be used by many traders to take profit or short. My idea is the same to sell some of...
This first structure is down and we can expect the price to visit soon the next level - 200 USD.
The reason behind is that much trade volume is locked in this upper area for quite some time without significant retrace. Prices up to 71.8% retracement (according to latest structure) is just not attractive at this time. Bigger deep is expected for investors...