Monfex is at your service !
We have descried a hidden speculative Long opportunity on Litecoin.
Take a look at 1H Chart:
* We see 3 evident levels, where buyers were stocking up while the price was gradually capitulating.
* After that, the market entered into accumulation/consolidation phase, where Bulls were pushing the price up persistently crowding out Bears.
* Most likely that Bears have allocated their Stop-loss orders somewhere above the local tops of the consolidation area, that is above $58.61.
* Should we see the price pushing through the specified level on increased , a speculative Long will be confirmed with the target around $70.
Speculative trade signal
Buy @ $55 - 56
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