CHANNEL BOUND:
Litecoin has reached the top of it's range in this chart based on Euro
from Kraken. The USD chart looks the same.
We see this channel going back to May and so far it has proven a reliable predictor of price movement.
We should play the range of this channel until a breakout to the upside or downside.
The odds are in your favor to take profits now at this 130 level in the EUR and 165/170 in the USD pari.
Then we wait for a pullback to the buy zone at the bottom channel line around 100.
THE TRADE:
Take profits now in Litecoin around 133 in the EUR
Buy on a pullback to the buy zone around 100 and take profits around 200 EUR
OVERALL LONG TERM TRADE:
Long term, this price trend is very bullish and you can buy and HODL Litecoin as long as this channel is intact.
Good trading!
Litecoin has reached the top of it's range in this chart based on Euro
from Kraken. The USD chart looks the same.
We see this channel going back to May and so far it has proven a reliable predictor of price movement.
We should play the range of this channel until a breakout to the upside or downside.
The odds are in your favor to take profits now at this 130 level in the EUR and 165/170 in the USD pari.
Then we wait for a pullback to the buy zone at the bottom channel line around 100.
THE TRADE:
Take profits now in Litecoin around 133 in the EUR
Buy on a pullback to the buy zone around 100 and take profits around 200 EUR
OVERALL LONG TERM TRADE:
Long term, this price trend is very bullish and you can buy and HODL Litecoin as long as this channel is intact.
Good trading!
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Twitter:
@BerlinTrader591
Sign up to TradingView charts:
tradingview.go2cloud.org/SHxi
Sign up for TastyWorks - The Broker of the Future:
start.tastyworks.com/
Twitter:
@BerlinTrader591