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kryptokens

LTC: Buy Opportunity

Short
Litecoin (COINBASE:LTCUSD)  
kryptokens Updated   
COINBASE:LTCUSD   Litecoin
Trend Analysis Chart Patterns Technical Indicators LTC LTCUSD Litecoin (Cryptocurrency)
2
0
trendanalysis chartpattern indicator ltc ltcusd litecoin
Looking at the 2 hr chart, LTC has formed a bear flag. If the price breaks the bottom of the channel ( Orange Box) then LTC will likely retest the 0.5 Fib level. However there is little support at this level and the daily RSI shows LTC as oversold. Because of this it is likely that we will retest the 0.618 Fib level which has historic support.

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snapshot

Looking at the 2hr chart, LTC has bounced off of the 0.5 fib level with great support.
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