From the chart you can clearly see the different phases of the market - Impulsive & corrective phases. We've seen several bullish corrections this year and we look to be in another one. This pattern is almost identical to the one we had in January 2021 which ended up topping off at 205% increase from the breakout!
We could be in a very similar situation here. Pay...
📈 LTC | Potential Upward Movement
💡 Buy Limit Order @ 167.30
🎯 Target Profit 182.13
🛑 Stop Loss 161.69
❌ Do not risk more than 1% of your account on each trade
The price succeeded to break the bullish flag formation to the upside. A lower correction might be seen to the strong support around the 167.18 USD mark. This will lead to the end of...
reasons for entry:
recently extremely oversold at support level rsi divergence on 30 minute timeframe
bull candles present
deep blue wave on market cipher
bullish engulfing candle present at support level
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Execute the price of the head and shoulder pattern as it is known and start moving upwards. If it goes out of the channel, it can be traded. For high resistance, if that resistance breaks, it can also experience a rise in price.
Warning: This is just a suggestion...
Similarly to Bitcoin, Litecoin dropped hard. We can see from that chart that once price broke the major trendline and the 100EMA, it gave us a nice retest before dropping further. We can continue to look for shorts until we create a bottom. From the bigger timeframe, the 2 main areas to look for reversal is the $95 and $67.
Litecoin looks to be correcting now and we have 2 areas of interest where it would be the best place to buy.
First area of interest:
-78.6% fibonacci where the 100EMA converges with the fib
Second Area of Interest:
Major Trendline support where we have the 200EMA
First target would be $400 level.
Litecoin has had one the best bullish price action. You can see that it has created clear bull flags and clear rejection of key levels.
Watch for bull flags on smaller timeframe and keep buying until the inner trendline is broken.