Get started
CryptoMacroTrend

Litecoin testing parallel channel support level!

Long
Litecoin / Bitcoin (BINANCE:LTCBTC)  
CryptoMacroTrend  
BINANCE:LTCBTC   Litecoin / Bitcoin
Support and Resistance Fibonacci Trend Lines Parallel Channel longtradeidea
2
0
supportandresistance fibonacci trendline parallelchannel longtradeidea
LTCBTC

Its been a while since we don't trade the Litecoin and today might be giving us a potential entry to go long.

Litecoin has been bouncing in this uptrend the whole year and we have witnessed only a couple of false breaks.

Today, the price is at the bottom of the channel line which coincided with Fibonacci level 0.61 and it got and strong rejection, oscillators had been at the oversold section for a while and now might showing signs of going out of that zone.

If the price respect the current support, we are ready with this scalping idea, what do you think?
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.