LTC has clearly overcome most of its major resistance levels below the 200 dollar area. It is now trading above this area and if it manages to turn this into support it will be great sign and a great start to ATH's.
LTC is currently trading in a descending triangle and is making lower highs. A break out to the downside of this triangle is very possible and a beautiful place of support is the 180 dollar area that I think it can come down to retest. If it does not come down this far it will probably retest the 200 dollar area and if it manages to turn this into support and get a nice bounce of it we can see a breakout to the upside of this triangle instead, which has been happening on numerous occasions and different alts and even BTC.
We will look at laddering longs around the 180 dollar area and if it doesn't come this low we will then look at laddering a long around the 200 dollar area. If it never reaches both these levels we will look at a momentum long order above a previous high, but for this to happen I would personally like to see it get rejected by this downward trend at least 1 more time.
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Disclaimer: The content covered in this channel is NOT to be considered as investment or trading advice.
I am NOT a financial adviser. These are only my own speculative opinions, ideas, theories, hypotheses and trade setup ideas on the market. The content posted in this channel is purely for entertainment purposes only and the information is NOT to be used or replicated by others.
LTC is currently trading in a descending triangle and is making lower highs. A break out to the downside of this triangle is very possible and a beautiful place of support is the 180 dollar area that I think it can come down to retest. If it does not come down this far it will probably retest the 200 dollar area and if it manages to turn this into support and get a nice bounce of it we can see a breakout to the upside of this triangle instead, which has been happening on numerous occasions and different alts and even BTC.
We will look at laddering longs around the 180 dollar area and if it doesn't come this low we will then look at laddering a long around the 200 dollar area. If it never reaches both these levels we will look at a momentum long order above a previous high, but for this to happen I would personally like to see it get rejected by this downward trend at least 1 more time.
-
-
-
-
-
-
-
-
Disclaimer: The content covered in this channel is NOT to be considered as investment or trading advice.
I am NOT a financial adviser. These are only my own speculative opinions, ideas, theories, hypotheses and trade setup ideas on the market. The content posted in this channel is purely for entertainment purposes only and the information is NOT to be used or replicated by others.