LTCUSD Reversal Upwards to $171
A quick update from the read I did on January 11th, called the bottom out on LTC at $121 - $124 and from there a bounce to a reversal which we're seeing now.
LTC regained the topside of this channel as a level of support, as well as $126 - $45 accumulation zone. At the moment, Litecoin is trying to breakout above $145 and has posted up 2 back to back 4-hour hammer candles. It looks like it’s about to explode. I would be very surprised if it doesn't pump within the next few 4-hour candles. The market makers know that we know it's about to pump and they are prolonging it and not making it easy, but I am confident that it's about to reverse from here.
We've already seen the dump down from $121 - $124, the entire month of January was the product of a capitulation sell off down 34% in the span of a day.
Going long now my targets for Litecoin are:
TP1 🎯 $159
TP2 🎯 $171.55
TP3 🎯 $183.81
LTC regained the topside of this channel as a level of support, as well as $126 - $45 accumulation zone. At the moment, Litecoin is trying to breakout above $145 and has posted up 2 back to back 4-hour hammer candles. It looks like it’s about to explode. I would be very surprised if it doesn't pump within the next few 4-hour candles. The market makers know that we know it's about to pump and they are prolonging it and not making it easy, but I am confident that it's about to reverse from here.
We've already seen the dump down from $121 - $124, the entire month of January was the product of a capitulation sell off down 34% in the span of a day.
Going long now my targets for Litecoin are:
TP1 🎯 $159
TP2 🎯 $171.55
TP3 🎯 $183.81
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