Litecoin together with many other cryptocurrencies has been losing value against USD and has dived from a price of $370 recorded on the 19 Dec 2017 to $55. It is an 85% loss in value and it may grow in the next 2 weeks. The key support, however, is in the $40s and 
50S area where it resided for months last year. The angle which was almost vertical at the beginning of the downtrend is flattening and a truncation could happen once the 4th and the 5th waves are completed. The cryptocurrency remains an excellent long-term investment opportunity.
There are plenty of buyers for LTC and many more will pop in if the price drops below $50. The price could, however, hover in the $50-$80 area during a possible ABCDE corrective pattern. A key resistance might develop at $110 which served as support a number of times during the dive. The TPs for longs will, therefore, be $75 and $108. The entry is the $40-$55 area with StopLoss below $38. For any of those who would rather play safely, I suggest monitoring the market until the price exited the downtrend and is part of a consolidation or uptrend.
Winning trades for everyone! Cheers!
NOTE: The angles are correctly built, but whenever I tried to publish the idea the lines of the angles would move from their initial place. I hope that does not cause inconvenience. Thank you.
50S area where it resided for months last year. The angle which was almost vertical at the beginning of the downtrend is flattening and a truncation could happen once the 4th and the 5th waves are completed. The cryptocurrency remains an excellent long-term investment opportunity. There are plenty of buyers for LTC and many more will pop in if the price drops below $50. The price could, however, hover in the $50-$80 area during a possible ABCDE corrective pattern. A key resistance might develop at $110 which served as support a number of times during the dive. The TPs for longs will, therefore, be $75 and $108. The entry is the $40-$55 area with StopLoss below $38. For any of those who would rather play safely, I suggest monitoring the market until the price exited the downtrend and is part of a consolidation or uptrend.
Winning trades for everyone! Cheers!
NOTE: The angles are correctly built, but whenever I tried to publish the idea the lines of the angles would move from their initial place. I hope that does not cause inconvenience. Thank you.
Dagangan aktif
The price made a low at $49 and has been moving up since then. The uptrend is clearly visible on the 4h chart. TP1 for buy orders is at $63.600 (weekly pivot).Dagangan aktif
TP1 achieved at $63.600.Dagangan ditutup secara manual
The price is consolidating in the ~$50 area.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.