Litecoin (LTCH19) Breaking Out Slowly

Looks like Litecoin (LTCH19) is taking the lead again.

I am looking at it short term, which we normally do for BitMEX trades, and you can see from the chart above that Litecoin (LTCH19) is already breaking out... but slowly.

• Litecoin has broken above all major resistances, EMA10, EMA50 and EMA100.
  
• With a break above these levels after retracing for several days, it is clear that LTCH19 will test the last high or move above it.
  
• RSI and MACD are both looking bullish.
  

Conditions for change: Litecoin can still move down and break down, a close below EMA10 would be a strong signal that the above signals won't be followed up upon, but this is very unlikely right now until the last resistance is tested.

For a short term trade, I would use a close below 0.01200 as a stop loss (manual). Longer term, I would simply buy and hold Litecoin long term.

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Namaste.

Trade closed: target reached:

131% ROE generated.
(65% to our second target, the third target has HOLD).

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Trade: LONG LTCH19

Leverage: 10X

Buy In: 0.01230

Time Frame: 4H

Targets:

(1) 0.01286 -Reached
(2) 0.01311 -Reached
(3) 0.01392 -Reached

Stop Loss: Close 4H candle below 0.01200

Liq. Price: 0.01130

Profit Potential: 65.8% ROE

Capital Allocation: <6%.
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Thanks a lot for the continued support.

Namaste.