LTC had a great start of this year of 2020, My long term target is in fact still in play for 400 USD minimum top target. But as with all bull markets, pull backs are to be expected and prepared for. Currently, LTC is trading inside of an ascending channel, which is a bearish pattern, statistically. Also, over the last week, we've been putting in lower highs and lower lows, which tells me this trend may end soon, and correct further to the downside. A very common retracement level is the 0.786 Fibonacci level, which is where I'm looking for a bounce at about the 57 dollar level. In the macro view, It does appear we are still in the beginnings of a bull market, but short term volatility is highly profitable, if you know how to play the markets. I'm still waiting for a decisive breakdown of the falling channel, in which playing a short down to at least the golden pocket retrace can help hedge my LTC position.
