1H Trade Signal on Litecoin! **LONG**

COINBASE:LTCUSD   Litecoin / U.S. Dollar
Hi, Traders ! Monfex is on the air !

We see the short-term scalp idea on 1H Chart of Litecoin.

* Litecoin is forming up a 1H decline suspension pattern consisting of doji candles and inside bars.
* Supported by higher Volume on the tails, the pattern implicates a high probability of the price shooting up to the short-term descending trend-line, depicted on the Chart.
* RSI is indicating the oversold condition, while MACD has expanded into the negative territory.
* Allowing for the price to decline further to the Area of Retreat, we divide our Long order in two parts: buy now @$52.30 and buy more to average out if the price retreats to @$51.30 level.

Active trade signal

Buy @ $52.30.
Buy to average out @ $51.30.
Target: $54.00.
Stop-loss: $50.88.

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This report is for information purposes only and should not be considered a solicitation to buy or sell any cryptocurrency or cryptocurrency product. Monfex accepts no responsibility for any consequences resulting from the use of this material. Any person acting on this trade idea does so entirely at their own risk.
Trade closed: stop reached


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