Litecoin looks like it has potential for an amazing swing trade opportunity. Let’s take a look.
On the weekly time frame we have the over head and lower trend lines with 2 touch points each.
We have our yellow large time frame fib and our white shorter time frame fib.
Lastly we have our red box of resistance which was drawn on the monthly time frame which has acted as both resistance and support in the past.
LTC looks awfully bottomed out and would expect the red box of resistance to be retested which also lines up with the yellow .236 fib level around 125-130. From current price to 125 is a beautiful risk to reward setup. But LTC has many hurdles to over come and if we don’t blow through 125/130 levels then I’d expect that area to be a area to get a big rejection.
Trade with caution traders. All eyes are on big brother BITCOIN.
What’s everyone think?
On the weekly time frame we have the over head and lower trend lines with 2 touch points each.
We have our yellow large time frame fib and our white shorter time frame fib.
Lastly we have our red box of resistance which was drawn on the monthly time frame which has acted as both resistance and support in the past.
LTC looks awfully bottomed out and would expect the red box of resistance to be retested which also lines up with the yellow .236 fib level around 125-130. From current price to 125 is a beautiful risk to reward setup. But LTC has many hurdles to over come and if we don’t blow through 125/130 levels then I’d expect that area to be a area to get a big rejection.
Trade with caution traders. All eyes are on big brother BITCOIN.
What’s everyone think?
