If you remember the recent crash, you would also remember that Litecoin was one of the main "Large-cap Altcoin" to bounce very strongly. Ever since then it has been rather laggard.
At the moment we have an interesting situation with LTC and it presents a trade. We are currently moving inside an ascending triangle on the Daily Chart which I expect to play out in order for this trade to be successful.
Entry: 46.91
SL: 41.11
Target 1: The Yellow downtrend trendline (Take 25% off here if in case we encounter strong resistance there. Move SL to entry.
Target 2: 68.14 Close the remaining position here. I suppose it will be a fast ride if we break through the downtrend line.
This is my swing position for this month. I will update if we reach targets or hit SL. Cheers and Good Luck!
At the moment we have an interesting situation with LTC and it presents a trade. We are currently moving inside an ascending triangle on the Daily Chart which I expect to play out in order for this trade to be successful.
Entry: 46.91
SL: 41.11
Target 1: The Yellow downtrend trendline (Take 25% off here if in case we encounter strong resistance there. Move SL to entry.
Target 2: 68.14 Close the remaining position here. I suppose it will be a fast ride if we break through the downtrend line.
This is my swing position for this month. I will update if we reach targets or hit SL. Cheers and Good Luck!
Trade closed: stop reached